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US imposes sanctions on companies and vessels ignoring price limits on Russian oil  

The US sanctioned three companies and their vessels, including HS Atlantica Limited and Sterling Shipping Incorporated, for surpassing G7 limits on Russian oil prices.
US imposes sanctions on companies and vessels ignoring price limits on Russian oil  

The United States has imposed sanctions on three companies and three vessels involved in the sale of Russian oil at prices exceeding the G7 limits. On December 1, the US Office of Foreign Assets Control (OFAC) announced sanctions against three legal entities and three vessels.

The companies targeted include HS Atlantica Limited registered in Liberia, Sterling Shipping Incorporated registered in Dubai, and Streymoy Shipping Limited.

The sanctioned vessels are under the Liberian flag and include HS Atlantica (5LIP5), NS Champion (A8FD9), and Viktor Bakaev (D5BN6), all associated with these legal entities.

It is worth noting that the G7 implemented a price ceiling on Russian oil at the end of 2022, with the aim of reducing Russia’s revenue from energy exports, funding its war against Ukraine, and avoiding a global spike in oil prices. These sanctions are not the first targeting vessels and companies recently for circumventing the “price ceiling.”

According to the US State Department, the objective is to halve Russia’s energy income by 2030. The sanctions aim to deter companies from violating the agreed-upon price limits and send a clear message about the consequences of non-compliance.

1. HS ATLANTICA LIMITED
– Location: 80 Broad Street, Monrovia, Liberia
– Identification Number: IMO 6356766
– Sanctions Basis: [RUSSIA-EO14024]

2. STERLING SHIPPING INCORPORATED
– Location: Unit 27610 – 001, Building A1, IFZA Business Park, Dubai Silicon Oasis, Dubai, United Arab Emirates
– Identification Number: IMO 5206051
– Sanctions Basis: [RUSSIA-EO14024]

3. STREYMOY SHIPPING LIMITED
– Locations: Unit 27610 – 001, Building A1, IFZA Business Park, Dubai Silicon Oasis, Dubai, United Arab Emirates; 80 Broad Street, Monrovia, Liberia
– Identification Number: IMO 5724311
– Sanctions Basis: [RUSSIA-EO14024]

In addition to these entities, three vessels have been added to OFAC’s SDN List:

1. HS ATLANTICA (5LIP5)
– Vessel Type: Crude Oil Tanker
– Flag: Liberia
– Registration Identification: IMO 9322839; MMSI 636022401
– Sanctions Basis: [RUSSIA-EO14024] – Linked To: HS ATLANTICA LIMITED

2. NS CHAMPION (A8FD9)
– Vessel Type: Crude Oil Tanker
– Flag: Liberia
– Registration Identification: IMO 9299719; MMSI 636012384
– Sanctions Basis: [RUSSIA-EO14024] – Linked To: STERLING SHIPPING INCORPORATED

3. VIKTOR BAKAEV (D5BN6)
– Vessel Type: Crude Oil Tanker
– Flag: Liberia
– Registration Identification: IMO 9610810; MMSI 636015565
– Sanctions Basis: [RUSSIA-EO14024] – Linked To: STREYMOY SHIPPING LIMITED

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