The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.
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.
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.
