Glencore Funded Refineries Owned by Putin's Allies, SourceMaterial Reports
April 13 2022 - 8:28AM
Dow Jones News
--Glencore PLC funded two Russian refineries owned by Vladimir
Putin's allies in 2016, and was repaid with oil products worth
around $800 million, investigative journalism group SourceMaterial
reports.
--Loan security documents relating to the deals indicate the
arrangements remain active, but Glencore says it has no continuing
business relationship with either refinery and that both deals were
carried out through an open-market process, SourceMaterial
says.
--SourceMaterial is a non-profit organization funded by
charitable foundations. It works collaboratively with major news
vendors, including The Times of London, NBC and Bloomberg.
--The Times is owned by News Corp., the parent company of Dow
Jones & Co., publisher of the Wall Street Journal and Dow Jones
Newswires.
Full story: https://bit.ly/3ro9s3O
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(END) Dow Jones Newswires
April 13, 2022 08:13 ET (12:13 GMT)
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