U.S. imposes more Russian oil price cap sanctions and issues new compliance rules for shippers
The U.S. has imposed new sanctions on alleged violators of its price cap on Russian oil and tightened compliance rules for insurance firms and shippers that move it
WASHINGTON (AP) — The U.S. imposed new sanctions on alleged violators of a $60 per barrel price cap on Russian oil and tightened compliance rules for insurance firms and shippers, Wednesday.
Firms across the United Arab Emirates and Hong Kong were identified for economic sanctions, including UAE-based Sun Ship Management D Ltd., which Russian state-owned fleet operator Joint Stock Company Sovcomflot owns. Also sanctioned were Hong Kong-based Covart Energy, which has increased its share of the trade of Russian oil since the price cap policy was implemented, and Hong Kong-based Bellatrix Energy.
Firm administrators were not available for comment to The Associated Press. The sanctions, which follow others imposed this year on shippers of Russian oil priced above the cap, block their access to their U.S.-owned property and prevent U.S. individuals and firms from doing business with the groups.
The price cap coalition also announced Wednesday that it will soon require service providers, including shippers and movers of Russian oil, to receive attestations from their purchasers and sellers each time they lift or load Russian oil.
