OFAC Sanctions for Russia Oil Cap Violations

Posted 11/18/23

The Treasury Department’s Office of Foreign Assets Control is imposing sanctions on three entities and identifying as blocked property three vessels that carried Russian crude oil above the price cap agreed to by the United States and its allies.

“Shipping companies and vessels participating in the Russian oil trade while using Price Cap Coalition service providers should fully understand that we will hold them accountable for compliance,” Treasury Deputy Secretary Wally Adeyemo.

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