"Western Sanctions Disrupt Russian Oil Payments and Tanker Fleet"

Russian oil firms are facing payment delays of several months as banks in China, Turkey, and the UAE increase scrutiny due to U.S. secondary sanctions. The delays reduce revenue to the Kremlin and disrupt global energy flows, aligning with U.S. sanction goals. Banks in these countries have heightened compliance requirements, leading to payment delays or rejections for Russian transactions. The U.S. Treasury's executive order in December 2023 warned of possible secondary sanctions on Russia, prompting increased checks and documentation requests from banks working with Russia.