Europe News

UKEF’s high prices risk driving away exporters, report warns

British exporters have again urged UK Export Finance (UKEF) to soften its pricing, warning that companies are considering moving their business elsewhere or are …

Europe / 03-04-23 / by John Basquill

Letter of credit payments permitted despite Russia sanctions, UK court rules

A London court has ruled that UniCredit should have made payments due under letters of credit (LCs) even after the introduction of UK and …

Europe / 29-03-23 / by John Basquill

MET taps 15 lenders for €1.23bn facility

Energy trader MET Group has secured a €1.23bn multicurrency revolving borrowing base facility from a syndicate of 15 banks. Baar-headquartered MET is active in …

Europe / 29-03-23 / by Jacob Atkins

Russian oil price cap lacks enforcement in Switzerland, report claims

Swiss authorities are failing to properly enforce the price cap on Russian oil, a report from non-profit Public Eye has claimed, suggesting that traders …

Europe / 22-03-23 / by Jenny Messenger

Italy waters down fossil fuel pledge as Sace backs gas

Italy has walked away from a pledge to end support for international fossil fuel projects by the end of last year, indicating it will …

Europe / 22-03-23 / by Jacob Atkins

UK businesses urged to move ahead on digitalisation despite ‘fragmented’ government approach

Businesses should start adopting digital trade strategies now to unlock significant economic and operational benefits, says a new report by the Institute of Export …

Europe / 22-03-23 / by Eleanor Wragg

Commodity traders bullish despite Credit Suisse contagion risks

Large traders are confident the historic downfall of Credit Suisse will not result in a deeper crisis, playing down suggestions of wider negative effects …

Europe / 22-03-23 / by John Basquill

Trafigura tops up European revolvers in oversubscribed refinancing

Trafigura has refinanced its European multi-currency syndicated revolving credit facilities (RCFs) for a total of US$5.4bn, in a pair of deals that the commodity …

Europe / 16-03-23 / by Eleanor Wragg

Ukraine grain deal faces fresh uncertainty as Russia struggles with agri exports

The potential renewal of the Black Sea Grain Initiative is again facing doubt and confusion, with Russia seeking a shorter-term arrangement unless payment issues …

Europe / 15-03-23 / by John Basquill

Regulator blasts Credit Suisse over investment in Greensill future receivables

Credit Suisse failed to recognise the growing risks associated with Greensill’s financing of future receivables, according to a damning review by Switzerland’s financial regulator. …

Europe / 28-02-23 / by John Basquill