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Arbitration rules for recovering 114.8 mln from Glencore in favor of Sber

In February 2023, the Moscow Arbitration Court ruled to recover the debt totaling 117.9 mln euro in favor of Sberbank from Glencore Energy UK Ltd

MOSCOW, April 15. /TASS/. The Moscow Arbitration Court ruled to recover the debt totaling 114.8 mln euro in favor of Sberbank from the Glencore group of companies, according to the arbitration cases file.

"The claim to be satisfied in full," the document reads.

Glencore PLC, Glencore-International AG, Glencore UK Ltd, and Glencore Group Funding Limited are respondents in the case. Sberbank seeks after recovering damages totaling 114.8 mln euro by way of recovering Rosneft stock of 0.57% held by Glencore Group Funding Limited or another company from the Glencore group.

In February 2023, the Moscow Arbitration Court ruled to recover the debt totaling 117.9 mln euro in favor of Sberbank from Glencore Energy UK Ltd.

In October 2022, Sberbank filed a statement of claims to the Moscow Arbitration Court against Glencore Energy UK Ltd in view of debts and penalties under contracts for oil supplies on the border of Ukraine with Hungary and Slovakia.

Glencore based in Switzerland is a major supplier of metals, oil, coal and agricultural produce.