Between Russia and Glencore it is hard to decide who you want to lose the most.

Glencore is evil.

I think it would be best if they both lost somehow.

Paywall

Damn they're involved in some high level stuff. I never would have guessed but I didn't really stick around after I gave a sample.

> Sberbank has taken legal action to recover debt and penalties from Glencore Energy UK Ltd over the two consignments, supplied by a subsidiary of Russia's largest bank in March. They were worth roughly 58 million euros ($62 million) each, according to Moscow court

>"Glencore is refusing to pay, citing sanctions," Sberbank First Deputy Chairman Alexander Vedyakhin told reporters.

>"There are different ways of working without violating sanctions... This issue could have been resolved, but unfortunately Glencore is refusing any communications with us.

Pretty sure they didn‘t pay in rubles, as that would be against sanctions. Seems like Russia has brought this on itself, no sympathy for Sberbank… 🤷🏼‍♂️

It's up to Sberbank to come up with a legal alternative way for Glencore to pay the bill, inform Clencore of the method, then if they refuse, sue. Simples.

I kinda doubt that a moscow court even got jurisdiction. Not surprised that it is filed there, but I would be very surprised if the contract did not stipulate that any dispute arising out of or connected to the contract were to be settled by arbitration at a neutral venue and a choice of law that is neither swiss or russian.