Planned 8.75% stake swap with aluminium tycoon’s firm cancelled after fresh US sanctionsGlencore,the world’s largest commodities trader, has begun cutting its ties with the Russian aluminium tycoon Oleg Deripaska after fresh US sanctions against his business empire.
Glencore said it had cancelled the planned swap of its 8.75% stake in the Russian aluminium maker Rusal, and which is controlled by Deripaska,for shares in the London-listed En+ Group, another of the oligarch’s companies.
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Source: guardian.co.uk