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According to reports, DBS, OCBC, and UOB are restricting funding for Russian energy deals

Published On 01 Mar 2022 12:05 PM


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Singapore's leading banks are limiting trade financing for Russian raw materials, as the conflict in Ukraine prompts lenders in Asia's largest resource and commodities trading hub to cut their exposure to the sanctioned country.

According to reports, the restrictions include a prohibition on providing so-called letters of credit in US currency for deals involving Russian oil and liquefied natural gas.

Because of the....


Tags : Singapore, DBS Group Holdings Ltd, Oversea-Chinese Banking Corp, United Overseas Bank Ltd,
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