The Moscow Arbitration Court has been approached by Sberbank with a claim seeking roughly 114.8 million euros in damages from Glencore entities operating internationally. This development was reported by RIA News.
The court did not rule out the possibility that the shares involved in the dispute could be owned by Glencore Group Funding Limited (BAE). Among the named defendants were British Glencore UK Ltd and Swiss Glencore International AG.
During the proceedings, the court also rejected the plaintiff’s request to disclose information about the beneficial owners of the holding company Glencore PLC.
Earlier information indicated that several Western banks and traders, including Citigroup and Trafigura Group, had been actively engaging in metal transactions with Russian suppliers despite sanctions and restrictions tied to the Ukraine conflict. In the meantime, major traders like Glencore signaled a withdrawal from new business in Russia, while continuing to honor existing contracts.
Vyacheslav Volodin, who formerly chaired the State Duma, spoke about Russia’s economic performance amid ongoing sanctions, asserting perceived resilience in the face of international restrictions.