Sberbank filed a lawsuit against international traders in the Moscow Arbitration Court

On Monday, the Moscow Arbitration Court registered a lawsuit filed by Sberbank against international traders Viterra Limited and Glencore International AG, as well as against five other companies associated with Glencore, follows from the information in the file of arbitration cases.

The subject and grounds of the claims in the court materials have not yet been reported. Also among the defendants are the British Glencore UK Ltd, Glencore Energy UK Ltd, Glencore PLC, the Dutch Rambero Holding AG and Glencore Group Funding Limited (UAE). The third parties in the file of the case are LLC Rostov Combine of Grain Products (Rostov-on-Don), Moscow LLC MZK Export and the Swiss trading company Sbera - Sber Trading Swiss AG. The claim has not yet been accepted for consideration.

In February, the Moscow Arbitration Court, at the suit of Sberbank, recovered from Glencore Energy UK Ltd, one of the structures of the large Swiss trader Glencore, about 117 million euros under an agreement on the purchase of future products dated October 22, 2020 for the supply of oil to the borders of Ukraine with Hungary and Slovakia. The decision was not appealed and entered into force.

Canadian Viterra, as well as two other major world suppliers of agricultural products - the American Cargill and the Dutch Louis Dreyfus Company - decided to stop grain exports from Russia from July 1 this year. According to the Ministry of Agriculture, last year all three companies accounted for about 5.5 million tons of grain exports from Russia, or about 13%.

As of 2022, Rambero Holding, a Glencore subsidiary, owned 23.46% of the authorized capital of Russneft, a large Russian oil company, or 31.28% of its ordinary shares. At the same time, in February, even before the start of Russia's special operation in Ukraine and a new round of Western sanctions, Glencore reported that it plans to close a deal to sell its stake in the first half of 2022.

Glencore is one of the world's largest diversified mining companies. It both manufactures and trades in commodities, including energy, metals and agricultural products. The headquarters is located in the Swiss Baar.