You're reading: New York Times: Despite sanctions, Russia finds buyers for $11 billion stake in Rosneft

New York Times: Despite sanctions, Russia finds buyers for $11 billion stake in Rosneft

Published Dec. 8, 2016 at 2:10 pm

A security guard walks by the entrance of Russia's state-controlled oil giant Rosneft headquarters in Moscow on Nov. 15, 2016.

Photo by AFP

MOSCOW – The Russian government announced on Dec 7 that it will sell nearly 20 percent of its state oil company, Rosneft, to the Swiss commodity trading firm Glencore and the sovereign wealth fund of Qatar.

The deal defies expectations that no investor would dare buy a share in the Russian asset, given Western sanctions against the government of President Vladimir Putin.