WASHINGTON: The United States has updated its sanctions list for Russia and added three tankers and three companies to it, the US Treasury ...
WASHINGTON: The United States has updated its sanctions list for Russia and added three tankers and three companies to it, the US Treasury announced on its website.
The sanctions list included Liberian companies HS Atlantica Limited, Streymoy Shipping Limited and Sterling Shipping Incorporated from the UAE. Also, the tankers HS Atlantica, NS Champion and Viktor Bakaev under the flag of Liberia are subject to sanctions.
"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," according to the statement.
On December 5, 2022, the European Union embargo on seaborne oil supplies from Russia came into force. G7 countries, the EU and Australia introduced a price cap on seaborne Russian oil at $60 per barrel for their subordinate ships and territories. From February 5, 2023, similar restrictions began to apply to the supply of petroleum products from Russia. The maximum cost was set at $100 and $45 per barrel, depending on the category of petroleum products. Changes to these restrictions require agreement from all EU states and G7 members.
As Deputy Prime Minister of Russia Alexander Novak announced on October 13, 2022, Moscow will not supply oil to countries that are artificially trying to limit the cost of this product through the use of a price cap.
Russian President Vladimir Putin emphasized in October 2022 that Moscow would not pay so that others could profit at its own expense and supply energy resources to countries that will limit their prices. He branded the introduction of a price cap on fuel from Russia as a dirty trick and shameless blackmail. Putin warned that the introduction of a cap on oil prices could lead to caps being imposed in other sectors, which would destroy the global market economy and threaten the well-being of billions of people.
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