Putin: Glencore, Qatar ‘complete deal’ for Rosneft stake
Glencore and Qatar’s sovereign wealth fund have completed their deal to buy 19.5 of Russian state-run oil giant Rosneft, Russian president Vladimir Putin announced.
Speaking at an annual press conference on Friday, Mr Putin said that “foreigners” had “transferred the money into the Russian budget in full.” The deal is worth Rbs700bn ($11.5bn).
The deal as announced two weeks ago would see Glencore and Qatar contribute EUR2.8bn of their own capital, with the rest to come from Italian bank Intesa and a consortium of Russian lenders.
Intesa said earlier this week that its “potential involvement” in the deal was “still under evaluation.” Financial regulators in Rome are examining whether Intesa Sanpaolo’s financing of a €10.2bn investment in Russian oil group Rosneft complies with sanctions.
Glencore and Qatar’s sovereign wealth fund did not immediately reply to requests for comment.