Reuters · Nation Thailand
SCB denies Tawan-Oil Trading ever held account with bank
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Siam Commercial Bank (SCB) has denied that Tawan-Oil Trading ever held an account or conducted transactions with the bank, responding to a Reuters investigation into fuel shipments involving Myanmar and Iran.
Key facts
- The investigation found that a December 2025 contract, worth US$15.8 million, described a shipment as South African diesel, while shipping records, satellite imagery and other evidence indicated that the cargo was Iranian jet fuel.
- ATTA fears 50% fall in Chinese group tours to Thailand at Lunar New Year 2027
- The bank said an extensive review of its internal records found that Tawan-Oil Trading had never maintained an account with SCB, including any account that might subsequently have been closed.
- Brent drops US$1.93 a barrel on October 27 amid Iran talks
- A separate May 2025 contract reviewed by Reuters also specified payment into a Tawan-Oil Trading account at SCB.
Summary
The bank said an extensive review of its internal records found that Tawan-Oil Trading had never maintained an account with SCB, including any account that might subsequently have been closed.
SCB also said the company had never had a business relationship with the bank or conducted any transactions through it.