GTR News Brief Episode 12

Host Felix Thompson gives a breakdown of the major stories in trade and trade finance news this week.

GTR has seen a review of disgraced oil trader Hin Leong’s activities and finances, carried out by interim judicial managers PwC.

Submitted to Singapore courts in June, it paints a damning picture of a company that had become reliant on fraudulent transactions and forging documents “on a massive scale”.

US authorities have seized Iranian oil from four tankers that were en route to Venezuela, in what is the latest escalation of American-led sanctions pressure on maritime trade.

According to a new report from Western Union and Oxford Economics, the post-pandemic recovery and growth of cross-border trade in services is expected to rely on digitalisation and the adoption of new technology.

Senior reporter John Basquill also provides a closer analysis on ABN Amro’s decision to cease all trade and commodity finance activities, following heavy losses due to Covid-19, low oil prices and the Hin Leong fraud scandal in Singapore.

Music credit to Kevin MacLeod for his track Loopster, taken from incompetech.com. Licensed under creative commons by attribution 3.0 license. Further music credit to Sunrise Drive by South London HiFi. Licensed under creative commons Attribution 4.0 License. Music promoted by CopyrightFree.org