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Sky News: US imposes sanctions on two tanker owners for carrying Russian oil above price cap

Russia oil tanker ban sanction
Russian oil tanker in east Siberia.
Sky News: US imposes sanctions on two tanker owners for carrying Russian oil above price cap

The US Treasury department has imposed sanctions on two owners of tankers that carried Russian oil above the G7 price cap of $60 a barrel, according to Sky News.

In 2022, the US, G7 countries and Australia imposed the cap, seeking to limit Russia’s revenues from seaborne oil exports to reduce its ability to finance the war in Ukraine.

The cap bans Western companies from providing maritime services including insurance, finance and shipping for Russian seaborne oil exports sold above $60 a barrel.

The new sanctions targeted Türkiye-based Ice Pearl Navigation SA and on UAE-based Lumber Marine SA, owner of the SCF Primoyre which conducted port calls in Russia, used US-based service providers while transporting the Russian origin oil, the US said.

On 25 September, the US Commerce Department imposed new trade restrictions on 11 Chinese and five Russian companies, accusing some of them of supplying components for the production of drones for the Russian Armed Forces.

US cracks down on Chinese and Russian suppliers of drone components to Russia

The US Commerce Department, which oversees export policy, added a total of 28 companies, including some Finnish and German companies, to a trade blacklist, making it harder for US suppliers to ship them technology that can be used by the Russian Army in its war against Ukraine, according to Reuters.

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