Glencore says cannot sell stakes in En+ Group, Rosneft

MOSCOW, Mar 30 (PRIME) -- Switzerland's Glencore cannot sell its stake in En+Group and Rosneft, the company said in a statement on Wednesday.

"Glencore has completed the review of its equity stakes in En+ and Rosneft. Glencore holds a 10.55% stake in En+ and a 0.57% investment in Rosneft. Glencore has concluded that there is no realistic way to exit these stakes in the current environment. Glencore has no Board or Management representation at En+ or Rosneft," the company said.

The company pledged to start no new transactions with Russian minerals, if other is not stipulated by orders of the authorities. The company will continue to fulfill all liabilities under earlier contracts in case the activities do not violate the sanctions and are possible and safe.

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