Tokio Marine says Greensill took out policies fraudulently; Kexim delays financing for Barossa gas field project; Biden orders ‘largest release of oil reserves in US history’

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said, adding it did not plan to pay out on the policies and would "vigorously defend" itself against any legal claims

• US President Joe Biden has announced plans for what is said to be the largest release from the strategic petroleum reserves in American history of 1 million barrels a day for six months to lower gas prices at the pump.

• The Export-Import Bank of Korea has put on hold its decision to provide financial support for the Australian Barossa-Caldita gas field project

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