US imposed new sanctions amid oil price limit violation from Russia
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Politics
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US imposed new sanctions amid oil price limit violation from Russia

treasury.gov
US Treasury

The United States announced a number of new restrictions against the Russian Federation for violating the price ceiling for the sale of Russian oil at a price of up to $60 per barrel introduced by the G7 countries.

What is known about the new US sanctions in connection with the Russian Federation's violation of the oil price ceiling

Today, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) continued to strengthen enforcement of the price cap on Russian oil, building on previous actions targeting shipowners and vessels involved in transporting Russian crude oil at a price above the cap, the US Treasury statement said.

It is noted that the OFAC and partner countries updated the regulatory measures to control compliance with the price limit for purchasing Russian oil and petroleum products.

According to the deputy head of the US Treasury, Wally Adeyemi, the new restrictive measures demonstrate the commitment of Western countries to control compliance with the price limit on Russian oil to reduce the income of the Russian Federation, which the Kremlin uses to wage a criminal war against Ukraine.

What is known about the persons and organizations that have come under the new US sanctions

  • SUN Ship Management D Ltd (UAE);

  • Bellatrix Energy Limited (Hong Kong);

  • Covart Energy Limited (Hong Kong);

  • Tanker Sanar 15;

  • Company Voliton DMCC (UAE).

All these companies helped the Russian Federation circumvent the price ceiling for Russian oil set by Western countries.

What is known about the new stage of establishing US control over oil prices from the Russian Federation

According to Bloomberg journalists, the United States is strengthening measures to monitor compliance with the price limit during the sale and purchase of Russian oil and oil products.

US officials say they have moved into a second phase of the curb regime, which will focus more on enforcement.

This will include an emphasis on compliance by G7 service providers who continue to help transport Russian oil, ensuring they stay within the limit.

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