The US Department of the Treasury announced new sanctions against two entities and vessels that used the services of companies under the “cap price coalition” (G7 and allies) but carried Russian oil traded at a higher price.
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As indicated by the US Office of Foreign Assets Control, the tanker SCF Primorye, whose formal owner is Lumber Marine SA, registered in the UAE, and the tanker Yasa Golden Bosphorus, whose owner is which indicates the company Ice Pearl Navigation Corp, registered in Turkey. These ships carried oil trading at $75 and $80 per barrel.
These steps underscore the commitment of the US Treasury Department, together with international partners, to responsibly reduce oil revenues to the Russian government and thereby contain the Russian war machine. The Ministry of Finance and the coalition will continue to closely monitor compliance with the price limit by shipping companies and vessels involved in the trade of Russian oil if they use the services of companies from coalition member countries, the press release says.
The US Office of Foreign Assets Control is aware of possible cases of above-the-line trade in oil originating from Russian Pacific ports using the services of US companies, and will continue to monitor such cases.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.