Europe News

ECAs to play significant role in securing Europe’s critical materials

Export credit agencies (ECAs) are set to play a vital part in the EU’s Critical Raw Materials Act (CRMA), introduced to help secure supplies …

Europe / 12-04-23 / by Jenny Messenger

Regulator censures Wyelands over receivables finance due diligence failings

UK authorities say Sanjeev Gupta’s Wyelands Bank provided a receivables financing programme without checking whether the underlying goods existed or whether there was any …

Europe / 05-04-23 / by John Basquill

Balli Steel execs get jail time over US$150mn trade finance fraud

The self-confessed mastermind behind a collapsed UK steel trading group’s US$150mn trade finance fraud has been handed a jail sentence of six and a …

Europe / 04-04-23 / by Jacob Atkins

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