Bloomberg: US plans to impose prison terms for violating the Russian oil price ceiling
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Bloomberg: US plans to impose prison terms for violating the Russian oil price ceiling

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Source:  Bloomberg

The United States of America has threatened to introduce prison terms for those violating Russian oil's price cap.

US threatens with prison for violating the price ceiling for Russian oil

According to the publication, the US Department of the Treasury has sent letters to 30 companies that control about 100 tankers, demanding that they provide detailed information and documents about the transportation and the companies involved in them.

The letter contained a threat of imprisonment if the recipients do not fulfill the requirements in full, the journalists specify.

At the same time, representatives of two insurers told the publication that the tone of conversations with the American authorities has changed in recent weeks.

According to Bloomberg, the US imposed sanctions and letters against several specific vessels and their owners. Little-known companies, most of which belonged to Sovcomflot, the state-owned Russian tanker company, fell under the restrictions.

The price ceiling for oil in Russia

At the end of last year, the G7 countries and the European Union decided to introduce a price limit for Russian oil at $60 per barrel. This is necessary to limit the aggressor country's ability to earn through exports.

But at the end of September of this year, the Financial Times reported that Russia managed to increase its income from raw materials despite the restrictions. It bypasses price restrictions.

According to the publication, the Kremlin's oil revenues in 2023 will likely be at least $15 billion more than expected.

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