TFG Weekly Trade Briefing, 19th July 2021

Your morning coffee briefing from TFG. US gas exporters face a tightening of European anti-pollution rules, Commercial Banking Applications prepares banks for SWIFT 2021, the EU unveils ambitious plan to become the first climate-neutral continent by 2050 and the UK estimates exit from EU will cost over £37.3bn.

US gas exporters face EU methane curbs after carbon tax reprieve
US oil and gas exporters have been warned that they face a further tightening of European anti-pollution rules despite energy’s exclusion from a swath of climate proposals introduced in Brussels last week.  Read more →

CBA prepares banks for significant SWIFT trade finance changes
Commercial Banking Applications (CBA) to help banks prepare for new structured message formats for exchanging information around Guarantees and Standby Letters of Credit which are crucial for the digitalisation of trade finance. Read more →

EU unveils plan to become first climate-neutral continent by 2050
European Union unveiled new legislation to help meet its goal of reducing net greenhouse gas emissions by at least 55% by 2030, including a controversial plan to tax foreign companies for the pollution they cause. Read more →

African Development Bank Group finances road interchange to boost trade in Ghana
African Development Bank Group finances road interchange in the capital of Ghana, in an effort to help reduce road fatalities and accidents and encourage trade within and around Ghana. Read more →

OPEC+ reaches deal to raise oil production
Opec and its allies have reached a deal to raise oil production in response to soaring prices, and set a target for the end of 2022 for restoring all the output cut during the early days of the pandemic. Read more →

UK estimates current Brexit divorce bill to EU at £37.3bn
The UK and Brussels painstakingly negotiated a system that will leave the UK free to set its own standards in areas such as environmental standards and labour law but with the risk of having access to the European market restricted if it strays too far. Read more →

United Kingdom forms closer alliance with Norway, Iceland and Liechtenstein with free trade deal
The UK, Norway, Iceland and Liechtenstein are taking a step forward in their £21.6 billion relationship with a free trade agreement. The new free trade agreement is set to benefit critical sectors, such as digital, financial, and professional business services, reduce tariffs and support jobs all across the UK. Read more →

Source: https://www.tradefinanceglobal.com/posts/tfg-weekly-trade-briefing-19-07-2021/

Join the Discussion

  • BrokerEUR/USD
    IG 0.6pips (fixed) margin: 3.33%
  • Back to top