January 12, 2018 / 11:56 AM / 9 months ago

Russia's Transneft says dispute with Sberbank resolved

MOSCOW, Jan 12 (Reuters) - Russian oil pipeline monopoly Transneft has resolved its dispute over financial derivatives with the country’s largest lender, Sberbank , on “mutually beneficial terms”, a Transneft official said on Friday.

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.

$1 = 56.5275 roubles Reporting by Vladimir Soldatkin; editing by Jason Neely

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