Shipping, commodities hunt for alternatives as sanctions on Russia bite
Commodities Focus
00:00
Is the Market Telling Us, Sir?
Ships have gone to the russian ports for loading, but a had issues paying for any of those operational expenses. Importers would prefer to err on the side of caution because they are worried that then ther financing system may get disturbed. Even though the energy sector was not overtly or explicitly sanctioned by the americans, there are banks particularly in india,. There is a major bank which has issued a letter and sent it to all its clients, trading clients, that anything relating to russia, they will not be financing, or not be issuing the letter of credits. The earl's grout was very popular in those tenders. So as a result, we see that the
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