Russia
Indian Import of Train Wheels Produced Prior to Russian Invasion
A small portion of India’s USD 16m import order for 36,000 Vande Bharat train wheels from a Ukrainian
Trade Finance Compliance Ramifications of Russian Invasion Examined
A recent Paper released by S&P Global Market Intelligence offers insights on developments stemming from the increase in
EU Sanctions Sberbank
Russia’s largest bank, Sberbank, was designated by the European Union in its seventh package of sanctions against Russian persons
Aviation Litigation Takes Off, Aircraft Stranded in Russia
Even in the initial weeks following imposition of sanctions after Russia’s February 2022 invasion of Ukraine, the aviation industry
Equador Cautions Trafigura of Russian Origin Diesel Discharge
Petroecuador, Ecuador’s state oil company, has cautioned Trafigura Group about avoiding importing fuel of Russian origin after the commodity trader reportedly “finished discharging a cargo of mostly Russian diesel at the Ecuadorian port of Esmeraldas”
BAFT 2022 Global Annual Meeting: Executive Summary
In the 100th year of its organizational existence, BAFT conducted its Global Annual Meeting on 1-4 May 2022 in Washington, DC, as a hybrid event to accommodate in-person and virtual attendees. The conference began with a gala dinner to mark the centennial celebration.
Report: Russia Seeks Reversion to Paper LCs with India
As an alternative to use of SWIFT for the sending of letters of credit, the Bank of Russia and Reserve
Sri Lanka Seeks Coal, but no LCs to Back Sales
Sri Lanka’s Power and Energy Minister has sought Cabinet approval for emergency purchases of coal, but importers have been informed by People’s Bank that it is not possible to open LCs.
Asia Traders Ready, Willing, Unable to Buy Russian Coal
Citing an inability to find an appropriate payment arrangement, would-be purchasers of discounted Russian thermal coal based in Asia have
EU Adopts Fifth Round of Sanctions Against Russia
On 8 April 2022, the Council of the European Union imposed restrictive measures against an additional 217 individuals and 18
Aviation Company Says Bank Wrongfully Dishonored LCs Backing Russian-Leased Planes
Celestial Aviation Services, a subsidiary of Irish-based aircraft leasing giant AerCap, filed a USD 45.8m suit in London High
Majority of Jets Leased to Russia Remain Unrecovered
Foreign leasing companies which have supplied Russia’s airline industry with more than half of its 980 aircraft fleet recovered “only a fraction” of the jets
