January 12, 2018 / 12:09 PM / in 4 months

Russia's Transneft says dispute with Sberbank resolved

MOSCOW (Reuters) - Russian oil pipeline monopoly Transneft (TRNF_p.MM) has resolved its dispute over financial derivatives with the country’s largest lender, Sberbank, on “mutually beneficial terms”, a Transneft official said on Friday.

FILE PHOTO: A general view of oil tanks in the Transneft – Kozmino Port near the far eastern town of Nakhodka, Russia November 15, 2017. REUTERS/Yuri Maltsev

The dispute was over deals on derivatives concluded in 2013 that resulted in losses for Transneft of around 67 billion roubles ($1.2 billion) due to a sharp depreciation in the rouble.

    Maxim Grishanin, Transneft’s first vice president, also told reporters that the company expects its dividend payout this year to be on a par with what it paid last year.

    Reporting by Vladimir Soldatkin; editing by Jason Neely

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