Gunvor trader, who previously belonged to Gennady Timchenko, plans to get rid of Russian assets

Gunvor’s energy trader plans to sell non -enorm assets in Russia and find a strategic partner for the German refineries to compensate for the losses incurred in 2018, reports Reuters with reference to industry and banking sources.

Sources claim that the key business business Gunvor remained profitable, but the trader suffered losses due to the impact of one-time factors that "will not be repeated this year."

Gunvor was founded in 2000 by the Russian billionaire Gennady Timchenko and the Shpegus Torbier Tinkvist. The company was the main seller of Russian oil Urals. Until March 2014, Timchenko and Tinkvist owned 43.5% of Gunvor shares. After the Russian billionaire fell under US sanctions, Gunvor said that Timchenko had sold his share to the Tinkvist a day earlier. Later it turned out that Timchenko did not completely receive a payment for the sold package.

In May 2016, the Tinkvist appointed special dividends of $ 1 billion to pay off the debt to Timchenko.