Equador Cautions Trafigura of Russian Origin Diesel Discharge
Petroecuador, Ecuador’s state oil company, has cautioned Trafigura Group about avoiding importing fuel of Russian origin after the commodity trader reportedly “finished discharging a cargo of mostly Russian diesel at the Ecuadorian port of Esmeraldas”
Petroecuador, Ecuador’s state oil company, has cautioned Trafigura Group about avoiding importing fuel of Russian origin after the commodity trader reportedly “finished discharging a cargo of mostly Russian diesel at the Ecuadorian port of Esmeraldas” on 28 Aug, Bloomberg reported.
A contract that Trafigura signed in June 2022 to supply diesel oil to Petroecuador does not impose any restrictions by origin but it does indicate that the oil company would not be able to obtain an LC in case the cargo is of Russian origin or sold by a Russian company, according to Bloomberg.
Read next
DCW Monthly: April 2025
This month, DCW unpacks the legal and practical shifts reshaping trade finance interpretation. Why are ICC Opinions becoming increasingly scarce?
Singapore Paper Reveals Banks Pass Inspection, but have Room for Improvement
Four years after the Association of Banks in Singapore (ABS) roll out of a “Code of Best Practices – Commodity Financing”
Charter Party Bills of Lading: Know the Risk Mitigants
Most specialists in the trade finance industry are well aware of multiple court cases in recent years – many from Singapore
