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Gunvor to Sell Terminal

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Swiss energy trading firm Gunvor is considering options to sell its 26% stake in the Ust Luga oil export terminal near St. Petersburg. The move comes as the trader, once among the most prolific shippers of Russian crude and products, is ending transactions with most Russian counterparties in line with the EU and Swiss sanctions. Gunvor said it is considering the sale but added that a divestment has not been "practical or feasible" so far.

Topics:
M&A, Ukraine Crisis
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