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Russia Working on Ways to Circumvent Oil Payment Delays

OIL

Russia is working with partners after reports that it was struggling with payment issues due to sanctions pressure according to Kremlin spokesman Dmitry Peskov.

  • Reuters reported yesterday that Russia was waiting up to several months for oil payments as China, Turkey and UAE banks become wary of US secondary sanctions.
  • "Since the countries you mentioned are under unprecedented pressure from the financial and other authorities of the US and EU, of course this work is being carried out, but it is being carried out in a discrete mode," Peskov said.
  • "We are working very constructively with our partners and intensely, taking into account the dangers that arise from this unprecedented pressure, which is in violation of all clear rules and norms of international trade and economic relations," he added.
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