Commodities trader and mining group Glencore and Qatar's sovereign wealth fund are together buying a 19.5% stake in state-controlled Russian oil company Rosneft, the Kremlin said on Wednesday.
Russia will receive €10.5 billion ($11.3 billion) from the deal and will prepare a scheme for foreign currency conversion to avoid financial market volatility, the Kremlin spokesman told reporters.
In a release, Glencore confirmed it was in final-stage negotiations for the deal.
