Dubai holding sells stake in Russian RussNeft three months after acquisition

OCN International DMCC, a company from the United Arab Emirates, has sold its stake in the Russian oil company RussNeft three months after the acquisition. This is evidenced by the data on the share capital of RussNeft.

OCN International DMCC's share in the authorized capital was 12.25%. It was announced at the end of April 2025 that the Emirati company had acquired such a stake in RussNeft.

UAE company becomes a shareholder of RussNeft after the company's capital is withdrawn of the Swiss trader Glencore.

Glencore, one of the world's largest suppliers of commodities and rare earth materials, has been among RussNeft's key partners since the early 2000s, but decided to finally exit the Russian business in late 2023.

The deal could not be completed quickly because of the restrictions imposed by the Russian authorities on investors from "unfriendly" countries. However, in 2024, Russian President Vladimir Putin authorized such transactions, which allowed Glencore to sell its stake in the Russian company.

• The plans of another Russian company, Rosneft, a blocking stake in which belongs to the state-owned Rosneftegaz, are sell your asset in India were threatened after the new EU sanctions.