Buyers start to avoid Russian metals cargoes after Swift payments move - sources

More and more buyers are shunning negotiations for Russian metals and coal amid sanctions and the increasing risks of financing issues after Russia was partially barred from the Swift payment system after invading Ukraine, sources told Fastmarkets on Monday February 28.

This is especially so after the United States and its allies said some Russian banks will be removed from the Society for Worldwide Interbank Financial Telecommunications (Swift) global banking communications...

Published

Paul Lim

Sally Zhang

Min Li

Yingchi Yang

Yiwen Ju

Jinfan Yang

February 28, 2022

11:25 GMT

Shanghai, Singapore