UBS Group AG has extended a credit line to 2Rivers, a commodity trader, shortly before the UK government imposed sanctions on the company.

The UK government has identified 2Rivers as a key player in the Russian oil industry and has labeled it a "lynchpin" in this sector.

2Rivers, which was established earlier this year, is a rebranded version of Coral Energy Group after a management buyout. The timing of UBS's financial support raises questions about the bank's relationship with a company that is now being scrutinized for its connections to Russian oil operations.