Glencore reviews stakes in Rosneft and EN+ amid mounting pressure

Glencore is reviewing its stakes in Rosneft and EN+ amid mounting pressure on the commodity giant to dump them.

The miner has an 11 per cents take in London-listed Russian aluminium firm EN+ and a minority holding in oil giant Rosneft.

The company said: ‘We have no operational footprint in Russia and our trading exposure is not material for Glencore.’ 

Glencore has an 11% stake in London listed Russian aluminium firm EN+ and a minority holding in oil giant Rosneft

It added: ‘We are reviewing all our business activities in the country including our equity stakes in EN+ and Rosneft.

‘The human impact of this conflict is devastating.’

But Neil Wilson, analyst at Markets, said: ‘This is posturing. The company should exit these Russian giants like Shell and BP have done.’