Gunvor is selling some of its Russian assets but its not easy to find buyers.

But no one so far has offered to buy them.

One of the world's largest traders - Gunvor, founded by Gennady Timchenko and Thorbjørn Tornquist, wants to get rid out of some of its Russian assets. Although Mr. Timchenko has sold his stake in the company, it tries to reduce risks in the eyes of creditors and counterparties. The sources of "the Kommersant" believe that Mr. Tornquist also needs money for a settlement with the former partner. But it will not be easy for Gunvor to get rid of its Russian assets.

The Swiss trader Gunvor, the co-owner of which until March was Gennady Timchenko, who came under the US sanctions, is looking for buyers for its Russian assets, The Financial Times reported - this should reduce the risks of the company in the eyes of its Western creditors. Gunvor clarified: the company "is in the process of rebalancing its global portfolio that includes both purchases and sales". "Since a significant amount of our investments are in Russia, in the future Gunvor will consider the partial sale of some of these assets", - the company explained. They do not expect that this will affect the Gunvor trading in Russia, the country "remains a significant and important supplier of the energy resources". However, according to the sources of "the Kommersant" in the market, this is not so: in 2013 Gunvor exported about 4 million tons of oil, but it has bought only 1.5 million tons since the beginning of 2014.