The US Treasury imposed sanctions against two companies transporting Russian oil
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The US Treasury imposed sanctions against two companies that transported Russian oil in violation of the price ceiling. Two tankers were classified as “blocked property.” This is stated in message on the ministry’s website.
“We remain committed to implementing a policy of price restrictions, which pursues two goals: reducing Russia’s oil profits and maintaining stability in the global energy market,” explained the introduction of new sanctions by Deputy Secretary of the US Treasury Wally Idemo.
The report said that the restrictions were imposed on the Turkish company Ice Pearl Navigation Corp and its tanker Yasa Golden Bosphorus, as well as on Lumber Marine SA, which is based in the UAE, and its tanker SCF Primorye. The vessel of the Emirati company, according to the Ministry of Finance, transported Russian oil at a price above $75 per barrel, the Turkish tanker at a price of $80 per barrel.
The price of Russian oil exceeded the ceiling in mid-summer. According to the Russian Ministry of Finance, the average price of Urals oil in September increased to $83.08 per barrel. The day before, October 9, US Treasury Secretary Janet Yellen in an interview with The Wall Street Journal toldthat the US government is “very likely” to crack down on non-compliance with the price ceiling.
On December 5, 2022, the G7 countries, the European Union and Australia agreed to introduce a price ceiling for the supply of Russian oil by sea in the amount of $60 per barrel. After this, oil supplies from Russia to India and China began to increase. In September, according to Kommersant, Russia became the main supplier of oil to Ghana. Russia resumed active exports of fuel to the African country in the spring of 2023.
Read more in the Kommersant article. “Russian oil went to Africa”.
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