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DBS, OCBC, UOB said to be cutting financing for Russian energy trades
The limits include a halt on issuing so-called letters of credit in US dollars for trades involving Russian oil and liquefied natural gas, said sources.
DBS Group Holdings Ltd, Oversea-Chinese Banking Corp and United Overseas Bank Ltd have stopped issuing letters of credit involving Russian energy deals because of uncertainty over the course of sanctions, said these sources, who spoke on condition of anonymity.
