Banks in Turkey, UAE, and China are delaying payments for Russian oil

Russian companies have faced months of delays in crude oil and fuel payments as banks in China, Turkey, and the United Arab Emirates (UAE) fear secondary US sanctions.

"Reuters" agency published the information about this. Several banks in China, the UAE, and Turkey have tightened sanctions compliance requirements in recent weeks, leading to delays and even rejections of money transfers to Russia. Mashreq Bank in the UAE, Ziraat and Vakifbank in Turkey, and Bank of China and ICBC in China still process payments, but processing takes weeks or months.