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By Alfred Cang, Katharine Gemmell, Jack Farchy, Priscila Azevedo Rocha, Mark Burton, and Arno Schuetze
August 6, 2026 at 8:49 AM EDT
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Radiant World is under growing pressure after two of its key banks froze its funds and major miners moved to cut ties with the iron ore trading house.
Deutsche Bank AG and KBC Group NV have frozen some of the company’s Singapore bank accounts, while some other banks have suspended credit lines, according to people familiar with the matter who asked not to be identified due to the sensitivity of the subject. The moves came after Bloomberg reported last week that some of the largest commodity-trading firms had stopped dealing with Radiant World amid concerns it provided banks with falsified documents about iron ore trades, citing people familiar with the matter.
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