REUTERS/Maxim Shemetov
- New sanctions pressure from the US Treasury is pulling foreign banks away from Russia, the Wall Street Journal reported.
- Banks in the UAE, Turkey, and Austria are working to reduce their transactions with Moscow.
- This is disrupting Russia's oil trade, which is facilitated by some of these banks.
A string of global banks that have helped Russia circumvent Western sanctions are now turning their back on Moscow, as the US has increased pressure to comply.