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SocGen, Credit Suisse halt Russian commodity trade finance deals

by Mike Robinson

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© Reuters. FILEPHOTO: A view of the logo of French bank Societe Generale outside a Nantes bank, France, on February 4, 2022. REUTERS/Stephane Mahe

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(Reuters). – France’s Societe Generale, (OTC:), and Switzerland’s Credit Suisse (SIX 🙂 Group have stopped commodities trading with Russia from being funded, after the Ukraine war raised concerns over the wider impact of sanctions. Bloomberg News reported this Sunday, citing sources familiar with the matter.

The two banks, key financiers to commodity trade houses, are no longer providing the money needed to move raw materials such as metals and oil from Russia, the report https://www.bloomberg.com/news/articles/2022-02-27/socgen-credit-suisse-halt-russian-commodity-trade-finance-deals?sref=WJKVI5nK said.

Reuters did not receive any comment from Societe Generale and Credit Suisse immediately.

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