Qatar Investment Authority

Glencore, Qatar buy $15.6 bil stake in Rosneft

MOSCOW (Dec 8): Commodity trader Glencore Plc and Qatar's sovereign wealth fund agreed to buy a 10.2 billion euro ($15.6 billion) stake in Russia's largest oil producer from the state in a triumph for President Vladimir Putin over sanctions imposed by the West.

The surprise deal gives the buyers a 19.5% stake in Rosneft PJSC, which the US and European Union have targeted with punitive measures, and is the biggest foreign investment in Russia since the crisis in Ukraine.

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