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The enforcement actions coincide with the U.S. announcing new sanctions against Russia on the eve of the second anniversary of Russia's full-scale invasion of Ukraine.

A U.S. threat to hit financial firms doing business with Russia with sanctions has chilled Turkish-Russian trade, disrupting or slowing some payments for both imported oil and Turkish exports, according to seven sources familiar with the matter. The U.S. executive order in December did not explicitly target energy but it has complicated some Turkish payments for Russian crude as well as Russian payments for a broader range of Turkish exports, the sources said. U.S. sanctions aim to reduce the Kremlin's revenue and disrupt its war in Ukraine without choking Russian oil flows to global ma...

Banks in the United Arab Emirates (UAE) have restricted their dealings with Russia and started closing both personal and business accounts due to the risk of coming under secondary sanctions. Source: Vedomosti, a Kremlin-aligned Russian news outlet, with reference to businessmen working in the UAE and a representative of the Delovaya Rossiya association Details: The trend was also confirmed by tax and legal advisers.

Some Turkish banks are reportedly closing accounts associated with Russian businesses for fear of triggering secondary sanctions from the United States.

China's Xi Jinping has pledged open-ended support to Russia amid the Ukraine war, but some cracks are starting to show.