Sberbank tries to seize Glencore assets over oil debt

Sberbank PJSC is asking a Moscow court for €114.8mil (US$123mil) in compensation after its Swiss commodity trading unit sold oil to Glencore but never received payment, according to court documents. Bloomberg

MOSCOW: Russia’s largest bank is attempting to seize some of Glencore Plc’s Russian assets as compensation for what it says is an unpaid oil trading debt.

Sberbank PJSC is asking a Moscow court for €114.8mil (US$123mil) in compensation after its Swiss commodity trading unit sold oil to Glencore but never received payment, according to documents published on the court website.