inShare RSS Feed Email More Sharing ServicesShare Glencore Xstrata hammer out £1bn deal in Russia, while war risk looms large
Glencore Xstrata, the world’s largest commodities and mining group are set to agree a $1bn deal to take an equity stake in Russian oil company Russneft today, despite the threat of war with Ukraine.
The announcement came as stock markets rallied after yesterday morning’s slide, following the end of Russian military manoeuvres near the Ukrainian border.
According to the Standard, Glencore Xstrata’s revenues, at more than a quarter of a trillion dollars last year, are 30% larger than Ukraine’s entire GDP.
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