Nordic financial services group Nordea Bank Oyj, among a syndicate of 12 global and regional banks recently entering into a US $1billion unsecured revolving credit facility with Bunker Holding A/S, has highlighted its stance on compliance in regards to subsidiary Dan-Bunkering’s alleged involvement in the Syria war.
“On account of our disclosure policy, we cannot comment on specific client relations. Generally, however, we will say that we at all times observe all sanctions, laws and regulations in the countries in which we do business, and we require our clients and business partners to do the same,” Nordea told ShippingWatch.
“We take this responsibility very seriously. If it appears that a client has knowingly breached international sanctions, we report it to the relevant authorities and take the necessary measures, which may entail asking the client to find another bank.”
Danish news agency DR on 28 April reported Middelfart-based international bunker trading firm Dan-Bunkering allegedly being involved in delivering jet fuel to Russian fighter aircraft during the Syria war.
In summary, DR claimed Dan-Bunkering delivered jet fuel to Syria from January 2016 to May 2017; a minimum of DKK 104 million (US $1.5. million) was transacted through at least six deliveries totalling 30,000 metric tonnes (mt).
Related: Bunker Holding enters $1 billion credit facility arrangement with banks
Related: Danish media alleges Dan-Bunkering jet fuel deliveries during Syria war
Source: ShippingWatch
Published: 30 April, 2019
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