RE: Russian partial divestment to Dubai20 Nov 2025 13:27
Details of the Transaction
According to two sources with knowledge of the deal who spoke to Reuters, Rosneft divested an 11% stake to DEX Capital, a company based in the United Arab Emirates. The sale brings Rosneft's ownership below the critical 50% threshold that would trigger the application of U.S. sanctions.
Rosneft originally acquired a 60% controlling interest in KPC in 2017, with the local KAR Group holding the remaining 40%. At the time of that initial investment, sources indicated Rosneft's total commitment to the project was projected to reach approximately $1.8 billion.