Exclusive – Russia struggles to collect oil payments as China, UAE, Turkey step up bank scrutiny

MOSCOW (Reuters) – Russian oil companies face delays of up to several months in payments for crude and fuel as banks in China, Turkey and the United Arab Emirates (UAE) become more wary of U.S. secondary sanctions, There are eight sources familiar with the matter. Said.

Delaying payments reduces the Kremlin’s revenues and makes them irregular, allowing Washington to achieve its dual policy approval goals – disrupting funds going to the Kremlin to punish it for the war in Ukraine. While not disrupting global energy flows.

According to eight banking and business sources, several banks in China, the United Arab Emirates and Turkey have increased their sanctions compliance requirements in recent weeks, resulting in delays or even rejection of money transfers to Moscow. happened.

Banks, alerted by US secondary sanctions, began asking their customers to provide written guarantees that no person or entity from the US SDN (Specially Designated National) list is involved in a deal or is a beneficiary of a payment.

The sources asked to remain anonymous due to the sensitivity of the issue and were not allowed to speak to the media.

In the United Arab Emirates, banks First Abu Dhabi Bank (FAB) and Dubai Islamic Bank (DIB) have suspended several accounts linked to trading in Russian goods, two sources said.

The UAE’s Mashreq Bank, Turkey’s Ziraat and Vakifbank and Chinese banks ICBC and Bank of China still process payments, but they take weeks or months to process, four sources said.

Mashreq Bank declined to comment. UAE’s FAB and DIB banks, Turkey’s Ziraat and Vakifbank, China’s ICBC and Bank of China did not respond to requests for comment.

Kremlin spokesman Dmitry Peskov, asked about reports that payment problems exist, said banks in China have slowed down payments.

“Of course, unprecedented pressure from the United States and…

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