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Glencore makes a move on RussNeft

By Catherine Belton in Moscow

Published: October 25 2007 03:48 | Last updated: October 25 2007 03:48

Glencore, the Switzerland-based commodities trader, has waded into the politically charged battle for RussNeft, filing a request with the Russian authorities to acquire three production units belonging to the oil firm.

The move could pit the secretive Zug-based trader against powerful Kremlin interests seeking to tighten their grip over the energy sector.

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