EXCLUSIVE-Trafigura to stop buying crude from Russia's Rosneft before May 15

Global commodities trader Trafigura Group will stop all purchases of crude oil from Russia's state oil company Rosneft by May 15, a company spokesperson said on Tuesday.

The Geneva-based firm will also "substantially reduce" the volume of refined products it buys from Rosneft.

Under European Union financial sanctions against Russia, traders will no longer be able to buy oil from Rosneft after May 15 unless it is "strictly necessary" to secure the EU's energy needs.