A planned $2bn deal between Rosneft and oil trader Vitol has been shelved, in the latest sign that tougher western sanctions are hampering the Russian state oil group’s ambitions.
Vitol, the world’s largest independent oil trader, had been in talks to raise about $2bn from US and European banks to make an advance payment to Rosneft in exchange for future oil supplies. The talks were first reported by the Financial Times in March.
However, two people familiar with the matter said that since the last round of sanctions in July the deal had been shelved. One person described the deal as “dead”.
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