Russia Struggles to Collect Oil Payments from Chinese, Turkish Clients

Russian oil firms are reportedly having trouble collecting payments from customers in China, Turkey, and the United Arab Emirates (UAE) because buyers have grown more nervous about triggering U.S. sanctions against Russia. Reuters cited eight sources on Wednesday to back up reports that Russian oil companies must wade through months of paperwork to get paid: Banks, cautious of the U.S. secondary sanctions, started to ask their clients to provide written guarantees that no person or entity from the U.S. SDN (Special Designated Nationals) list is involved in a deal or...