Font Size

- Aa +

Tue 11 Apr 2017 12:27 PM

Font Size

- Aa +

Putin awards Russian state honour to QIA’s Sheikh Abdullah

Russian President awarded Glasenberg Order of Friendship after $11bn Rosneft deal

Putin awards Russian state honour to QIA’s Sheikh Abdullah
Russian President Vladimir Putin (2nd L) shakes hands with Sheikh Abdulla bin Mohammed bin Saud Al-Thani, chief executive of the Qatar Investment Authority (QIA), as Bank Intesa CEO Carlo Messina (L) and Glencore CEO Ivan Glasenberg (3rd L) stand beside during a meeting with participants of Rosneft privatisation deal at the Kremlin in Moscow on January 25, 2017. (Photo: ALEXANDER NEMENOV/AFP/Getty Images)

Russian President Vladimir Putin awarded state honours to
executives at Glencore Plc, the Qatar Investment Authority, and Intesa Sanpaolo
SpA months after the $11 billion deal to buy a minority stake in state oil
company Rosneft PJSC.

In an online order published by the Russian government on
Monday, Putin gave Russia’s Order of Friendship to Glencore CEO Ivan
Glasenberg, Qatari royal Sheikh Abdullah Bin Mohammed Bin Saud Al Thani and
Intesa executives including CEO Carlo Messina for their “great contribution to
strengthening cooperation with Russia.” Antonio Fallico, chairman of Banca
Intesa Russia, was awarded the Order of Honour.

In December, Putin unveiled the deal for Glencore and the
Qatari fund to buy a 19.5 percent stake in Rosneft, Russia’s largest oil
producer, using loans from Intesa. Putin met Glasenberg, Al Thani and Messina
at the Kremlin in January, thanking them for their roles in the privatization
of Rosneft.

“I want to express my confidence that your business in
Russia will develop and will develop successfully,” Putin said.

Peter Grauer, the chairman of Bloomberg LP, is a senior
independent non-executive director at Glencore.

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.