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 workings of the price cap on Russian oil by the G7, European Union and Australia remain uncertain less than two weeks from its start date, with some jurisdictions yet to provide details on enforcement and top traders suggesting they will not resume trading Russian crude. A ban on the provision of financing, insurance and ...| Global Trade Review (GTR)
Stronghold Global Finance, a UK-based trade finance firm, went into administration in August last year following a High Court order.| Global Trade Review (GTR)
Ghana International Bank (GHIB) and the UK’s development finance institution have launched a US$50mn facility aimed at reducing the trade finance gap in several African markets. As part of a mutual risk participation agreement, GHIB and British International Investment (BII) will share risk on trade finance flows in Sierra Leone, Liberia, The Gambia, Benin, DRC, ...| Global Trade Review (GTR)
