Torbjörn Törnqvist quits Gunvor after pressure over Russia links
Co-founder to hand $6.6bn commodities trader to group led by US head Gary Pedersen
Co-founder to hand $6.6bn commodities trader to group led by US head Gary Pedersen

Commodities trading house shocked energy industry with audacious move that quickly crumbled under US pressure

Swiss trader’s audacious swoop on Russian group’s overseas assets revives industry speculation over Kremlin ties

Likely replacement quits after board extends longtime leader’s contract to 2029

Buyer had close ties to Moscow and was co-founded by close associate of Vladimir Putin

World’s fourth-largest independent crude trader says markets may be ‘very choppy’ between April and June

Stegra has been striving to avoid same fate as bankrupt Northvolt