Radiant World faces losses as blue-chip firms reassess support

A company that claimed $9.6 billion in annual revenue and moved over 80 million metric tons of iron ore per year is now watching its business relationships disintegrate in real time. Radiant World, the Singapore-based trading house founded by Pinkesh Nahar, has seen some of the biggest names in commodities and banking walk away in a matter of weeks. The unraveling began in late July 2026 when Vitol Group, Cargill, and Glencore, three of the world’s most influential commodity trading firms, all stopped doing business with Radiant. The reason: allegations that the company had provided invalid invoices. The dominoes fall fast Once the major traders stepped back, the banks followed. Deutsche Bank and KBC froze some accounts linked to Radiant World in August 2026. Credit lines were suspended. Radiant’s revenues roughly doubled from around $4.5 billion in 2023 to $9.6 billion in fiscal year 2025. The firm built its operation on strong trade finance relationships with numerous banks and close ties to major commodity miners and traders. Mining giants Rio Tinto and Vale have both removed Radiant from their approved customer lists. Banks count the cost Intesa Sanpaolo, the Italian banking gr...