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Sberbank seeks to recover 117 mln euro debt from Glencore — court files

It is reported that preliminary hearings have been scheduled for December 6

MOSCOW, November 7. /TASS/. Sberbank filed a claim with the Moscow Arbitration Court against Glencore Energy UK Ltd, a subsidiary of the Swiss trader Glencore, for 7.2 billion rubles (about 117 million euros) due to the company’s debts and penalties under an agreement to supply oil to the borders of Ukraine with Hungary and Slovakia. This is according to court files published on Monday.

The Moscow Arbitration Court received the claim on October 31.

The court considered the claim of Sberbank PJSC against Glencore Energy UK Ltd for the recovery of debt under the agreement for the purchase of future products for the supply of oil blend to the border of Ukraine and Hungary in March 2022 in the amount of 57.1 million euros and a penalty of 1.1 million euros, as well as a debt for the supply of an oil blend to the border of Ukraine and Slovakia in March 2022 in the amount of 57.6 million euros and a penalty of 1.1 million euros. That means that the total amount of claims is about 117 million euros.

Upon consideration, the court’s judge ruled to accept the claim and initiate proceedings in the case. Preliminary hearings have been scheduled for December 6.

Glencore is a Swiss corporation, a major supplier of metals, oil, coal and agricultural products. It owns 150 mining facilities and has established production facilities in 35 countries around the world.

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