Major European Lenders Back Out of Oil Trade in Ecuadorian Amazon

Three major European banks — Credit Suisse, ING, and BNP Paribas — have announced they will no longer finance the trade of oil extracted from the Amazon Sacred Headwaters region in Ecuador. The decision is seen as a major victory for environmental and Indigenous rights activists, who campaigned heavily to stop the international financing of fossil fuel development in the region, Reuters reported.

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