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Vitol, Cargill, Glencore cut ties with Radiant World, Bloomberg News reports
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Vitol, Cargill, Glencore cut ties with Radiant World, Bloomberg News reports
Jul 31, 2026 6:22 AM

July 31 (Reuters) - Vitol Group and Cargill have stopped

trading with Radiant World, one of the world's largest iron ore

traders, Bloomberg News reported on Friday, adding that Glencore ( GLCNF )

is no longer doing new business with the company.

Two of the trading houses saw invoices or other documents

that Radiant World had provided to its banks that were not

valid, the report said, citing people familiar with the matter.

The third trading house pulled out after being informed about

concerns over falsified documents, Bloomberg reported.

At least two creditors, Intesa Sanpaolo SpA ( IITSF ) and

Jefferies Financial Group's ( JEF ) Point Bonita fund, are

reviewing their exposure to the company, Bloomberg said.

An Intesa spokesperson told Reuters that it has an exposure

of €200 million ($229.70 million) to Radiant World for which it

has booked provisions.

($1 = 0.8707 euros)

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