ING Group

European Banks Boost Support of “Top-Tier” Commodity Traders

Research conducted by Fitch Ratings suggests that European banks appear to be increasing lending to commodity trading firms facing extraordinary liquidity needs due to fierce commodity price volatility.

Russian Oil Buyers Unable to Obtain LCs, Banks Back Off

According to multiple trading sources cited by Reuters, at least three major buyers of Russian oil have been unable to open letters of credit from unnamed “Western banks” to cover purchases on 24 February 2022.

Singapore Court Dismisses Claim in ZenRock Fraud Case