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Published 3 months ago

U.S. Imposes Sanctions On Three Tankers And Their Owners For Shipping Russian Oil Above Price Cap

  • The United States has imposed additional sanctions on three entities and three oil tankers for carrying Russian crude above the $60-per-barrel price cap, aiming to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine.
  • The Office of Foreign Assets Control stated that the sanctions target vessels and entities that used Western maritime services while transporting Russian crude oil above the price cap, aiming to reduce Russia's oil revenues used for funding the war in Ukraine.
  • The Treasury Department issued a general license authorizing limited safety and environmental transactions involving the targeted vessels until February 29.
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