Already grappling with a long-term decline in correspondent banking relationships, banks in Eastern Europe and Central Asia are concerned de-risking is accelerating in the wake of sanctions imposed on Russia. However, participants at a recent industry event believe there could be signs of positive change ahead. Correspondent banking provides a vital lifeline for regional lenders ...| Global Trade Review (GTR)
Analysis: China plus one destinations among riskiest for sourcing| Global Trade Review (GTR)
The UK government has outlined how it expects commodities houses, trade finance banks and insurers to comply with an imminent G7 price cap on Russian oil aimed at hitting Vladimir Putin’s war chest while avoiding further price hikes. The November 14 guidance from the Office of Financial Sanctions Implementation (OFSI) on how it will enforce ...| Global Trade Review (GTR)
US authorities have imposed sanctions on two oil traders in Hong Kong and the UAE, as well as several shipping companies across Asia, for allegedly brokering and transporting Iranian-origin fuel. The Office of Foreign Assets Control (Ofac) and Department of State announced this week it was cracking down on “oil brokers”, which operate outside Iran ...| Global Trade Review (GTR)