Gunvor looks to sell Russian assets as it seeks to limit exposure

Gunvor, one of the world’s top five oil trading houses that was co-funded by Putin ally and sanctions-hit Gennady Timchenko, is looking to cut its exposure to Russia and to raise funds for acquisitions elsewhere in the world. The Swiss-based company is reported to be close to selling its stake in the Yakut coal company Colmar, and is also looking for buyers for some or all of its shares in the Ust-Luga coal and fertiliser terminal, as well as its 50% stake in the Novorossiysk terminal. Interfax