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Friday, 16 December 2016

Intesa’s role in Rosneft deal probed over sanctions

Intesa’s role in Rosneft deal probed over sanctions:
"Financial regulators in Rome are examining whether Intesa Sanpaolo’s financing of a €10.2bn investment in Russian oil group Rosneft complies with sanctions.

Glencore, the commodities group, and the sovereign wealth fund of Qatar are taking a 19.5 per cent stake in Rosneft.Intesa Sanpaolo, Italy’s largest bank by market capitalisation, is providing most of the $7.4bn of finance for the deal.

Rosneft is subject to EU and US sanctions following Russia’s seizure of Crimea in 2014. EU officials examining the investment have contacted national agencies in Italy and Britain, where Glencore has its main stock market listing, because member states are responsible for implementing and policing European sanctions."

'via Blog this'