Russian bank Sberbank has won a five-year US$100mn pre-export finance loan from JP Morgan.

The deal, which was announced at Sibos, will provide Sberbank with client financing in the oil and gas sector in Russia.

Jeremy Shaw, head of JP Morgan’s trade finance business in Emea says: “JP Morgan’s loan comes at a time of uncertainty about the availability of liquidity in Europe and is testimony to our trusted relationship with Sberbank, the strength and capacity of our trade finance capabilities, and our ongoing commitment to the Russian market.”