Glencore, Qatari fund buy 19.5 percent in Russia’s Rosneft
MOSCOW — Commodities giant Glencore and Qatar’s sovereign wealth fund have together acquired a 19.5 percent stake in Russia’s top state-controlled oil company, Rosneft, in a deal worth 10.5 billion euros ($11.3 billion), officials said Wednesday.
The long-planned sale is part of the Russian government’s efforts to sell some state assets to help balance the budget amid a two-year recession.
President Vladimir Putin described the deal as the largest in the global energy market this year.