| BNP Paribas SA (BNP), the French bank that paid a record fine two months ago for breaking U.S. sanctions, is cutting commodity-trade finance to Trafigura Beheer BV, according to two people with knowledge of the matter.
Executives at Trafigura, the world’s second-largest metals trader, contacted other banks to discuss BNP Paribas’s withdrawal, said the people, who asked not to be identified because they’re not authorized to speak about it. The Trafigura executives said the move is part of a broader exit from the business by France’s biggest lender, according to one of the people...............................................Full Article: Source
|