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)
The UK’s top crime and sanctions enforcement agencies have warned banks to be on the lookout for efforts by a Russian oil trading network to access trade finance. The National Crime Agency (NCA) and the Office of Financial Sanctions Implementation (OFSI) say in a “red alert” published on July 2 that sanctioned entities are using ...| Global Trade Review (GTR)
The UK’s export credit agency has tapped out its £3.5bn underwriting capacity limit for Ukraine after signing a deal for Thales missile exports to the war-torn country. Earlier this month, UK Prime Minister Keir Starmer announced a £1.6bn export finance facility for Ukraine and said the UK Export Finance (UKEF) agreement would help protect critical ...| Global Trade Review (GTR)
Denmark has unveiled a DKK1bn (€130mn) guarantee scheme aimed at boosting Danish investments in Ukraine’s defence sector. Under the initiative, the Export and Investment Fund of Denmark (EIFO) will cover up to 70% of a Danish company’s equity investment in a Ukrainian producer of defence goods. The guarantees will have tenors of no longer than ...| Global Trade Review (GTR)