Which major commodity trading firms cut ties with Radiant World and why?

Vitol Group and Cargill have stopped trading with Radiant World, and Glencore is no longer doing new business with the company, following concerns over document fraud. Specifically, two of the trading houses identified invalid invoices or other documents that Radiant World had provided to its banks, while the third withdrew after being informed about concerns regarding falsified documents.

What financial exposure do Intesa Sanpaolo and Jefferies’ Point Bonita fund have to Radiant World, and how are they responding?

Intesa Sanpaolo has booked provisions on a €200 million ($230 million) exposure to Radiant World, and its position is now largely covered with no impact on its 2026 net profit; Jefferies’ Point Bonita fund has about $300 million in trade finance-related exposure to Radiant World, is investigating the matter, has taken no provisions, expects to be paid, and considers any potential losses manageable.

Vitol, Cargill, Glencore Cut Ties with Radiant World Over Document Fraud

Jul 31, 2026

Major commodity traders Vitol, Cargill, and Glencore suspended business with iron ore trader Radiant World following allegations of falsified documents, prompting banks to review exposures worth hundreds of millions.

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