Transneft quits OTC market after settling $1bn swaps case

Russian market participants edgy after settlement leaves disclosure duties unclear

Moscow snow
Frozen out? Transneft claims to have stopped using derivatives

Russian oil transportation monopoly Transneft will not enter into new derivatives transactions for the foreseeable future, just weeks after agreeing a settlement with state-owned Sberbank on a billion-dollar claim arising from disputed foreign exchange options transactions.

The move is a response to what the company claims is a lack of clarity on derivatives sales and disclosure practices.

“We’re abandoning all work with derivatives,” a spokesperson for Transneft tells The

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here