Oil firms review Gunvor trade after U.S. sanctions target co-founder


  • World
  • Friday, 21 Mar 2014

LONDON (Reuters) - Oil companies are reviewing their dealings with Russian energy trader Gunvor but have not yet altered their business links, industry sources said on Friday, after the United States imposed sanctions on its billionaire co-founder.

The United States added Gennady Timchenko to its sanctions list on Thursday, forcing him to sell his near 50 percent Gunvor stake to Chief Executive Officer Torbjorn Tornqvist this week to keep it running.

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