Russian Oil Firms Face Payment Delays as China, UAE, and Turkey Increase Bank Scrutiny
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Greek-owned oil tankers headed to Russia have decreased by 25% this month, following a 60% decline since mid-2023. The decrease in shipping activity comes after the US Treasury sent letters to Greek ship owners inquiring about their compliance with the G7's $60 per barrel price cap on Russian oil. The US is cracking down on efforts to bypass the price cap, and some vessels have already faced sanctions. Western shipping companies, including those from Greece, are now being more cautious as the US is expected to further restrict Russia's oil revenue. This reduction in Greek oil tankers shipping to Russia could have significant implications for both Russia's oil trade and the Greek shipping industry, which is the world's largest. India has also refused to allow a sanctioned vessel to dock, si...
#newstr #Russia #OilPayments #China #Uae #Turkey #BankScrutiny #Sanctions #SecondarySanctions