Copyright © 2021 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

US imposes sanctions on three companies and vessels for carrying Russian oil above price cap

“Enforcement of the price cap on Russian oil is a top priority for the United States and our Coalition partners,” said Deputy Treasury Secretary Wally Adeyemo.
Russia oil tanker ban sanction
Russian oil tanker in east Siberia.

The US Treasury Department’s Office of Foreign Assets Control (OFAC) has implemented new sanctions against three companies from various countries and three vessels engaged in operations to sell Russian oil above the established price caps, OFAC announced on 1 December.

“Today, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is imposing sanctions on three entities and identifying as blocked property three vessels that used Price Cap Coalition services while carrying Russian crude oil above the Coalition-agreed price cap,” the statement read.

In 2022, the US, G7 countries, and Australia imposed a cap of $60 per barrel, seeking to limit Russia’s revenues from seaborne oil exports to reduce its ability to finance the war in Ukraine.

“The vessels NS Champion, Viktor Bakaev, and HS Atlantica carried Russian Urals crude oil priced above $70 per barrel after the crude oil price cap took effect,” OFAC reported.

Furthermore, these three vessels, while transporting crude oil of Russian origin, utilized services from the United States. They were blacklisted for this violation.

Additionally, sanctions have been imposed on Sterling Shipping Incorporated and Streymoy Shipping Limited, both based in the United Arab Emirates, and the Liberian company HS Atlantica Limited. According to the OFAC, these firms are the registered owners of the three vessels involved in transporting Russian oil.

“Enforcement of the price cap on Russian oil is a top priority for the United States and our Coalition partners. By targeting these companies and their ships, we are upholding the dual goals of the price cap by restricting Russia’s profits from oil while promoting stable global energy markets,” said Deputy Treasury Secretary Wally Adeyemo.

In October, the US Treasury Department imposed sanctions on two owners of tankers that carried Russian oil above the G7 price cap.

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!
Total
0
Shares
Related Posts