Europe’s banks fall out of love with commodity traders

By Jack Farchy, Isis Almeida, Andy Hoffman and Ruben Munsterman When Marc Rich needed $100 million to buy Iranian oil NSE 0.15 % and kickstart what would become the world’s largest commodity trader, he went to French bank Paribas. When a group of traders needed cash to take over Vitol and turn it into the largest oil trader, they turned to Dutch bank ABN. For the past half century, a small group of European banks has financed the trade in natural resources, for .. Read more at: https://economictimes.indiatimes.com/markets/commodities/news/europes-banks-fall-out-of-love-with-commodity-traders/articleshow/77702486.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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