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Shell to keep trading with Gunvor - email

Reuters - UK Focus

LONDON, March 21 (Reuters) - Royal Dutch Shell (Xetra: R6C1.DE - news) traders are allowed to keep dealing with commodities trading house Gunvor after the United States imposed sanctions on its co-founder, Shell (LSE: RDSB.L - news) said in an internal email seen on Friday by Reuters.

The email said Shell had been able to review the status of Gunvor following the imposition on Thursday of U.S. sanctions against Gunvor co-founder Gennady Timchenko.

"Following verification of the divestment of Mr Timchenko's shareholding in Gunvor, transactions with Gunvor are not affected by the sanctions imposed by the U.S. on Mr. Timchenko," it said.

"Transactions with Gunvor can therefore proceed unrestricted." (Reporting by Ron Bousso and Peg Mackey; Writing by Alex Lawler; Editing by Anthony Barker)