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March 2, 2022updated 23 Mar 2022 1:04pm

Ukraine crisis: Credit Agricole halts financing of Russia-linked deals

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
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French banking group Credit Agricole has paused financing new business deals associated with Russia after the country was hit by an array of sanctions, reported Bloomberg.

The sanctions were placed on Russia after it launched a military operation on neighbouring Ukraine.

The Montrouge-headquartered bank temporarily ceased lending to new businesses linked to Russia, people aware of the development told the news agency.

This includes a halt on financing for projects and movements of commodities.

Credit Agricole corporate and investment banking unit was quoted by Bloomberg as saying in an email: “In the current context, we are now only dealing with Russian counterparties in exceptional cases, and in response to very specific needs.”

The news comes as banks continue to be wary about the increasing sanctions unleashed on Russia by the US and its western allies in response to the Ukraine attack.

The sanctions, which targets Russia’s central bank and financial system, also included cutting off several Russian banks and financial institutions from the international payment network SWIFT.

According to the report, the lenders are worried about the risk of doing energy deals with Russia.

Societe Generale and Credit Suisse are said to be among the banks that suspended financing for the movement of commodities from Russia, including oil and metals.

Dutch lender ING Groep and Rabobank also limited lending to raw-material businesses involving the movement of commodities from both Russia and Ukraine.

Meanwhile, several asset managers, including JP Morgan and Dankse Bank, have frozen their funds exposed to Russian assets amid a plummeting market.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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