US Treasury: Oil products processed outside of Russia will not be considered Russian
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Oil products processed and resold outside of Russia will not be subject to the price ceiling for oil products. Such energy carriers will not be considered Russian. This follows from the preliminary instruction of the US Department of the Treasury, published on its website. site.
As stated in the document, the restrictions will apply from the loading of Russian oil products on sea transport until their first sale to another jurisdiction and their passage through customs control there. Petroleum products must also undergo “significant processing” in order not to be considered Russian.
At the same time, the price ceiling after sale to other countries will be in effect if Russian oil products are not significantly processed, the document says.
The US Treasury intends to publish final clarifications on Russian oil by February 5, 2023.
The countries of the European Union, the G7 and Australia have set limit prices for Russian oil at $60 per barrel from December 5. In response, Russia imposed a ban on the sale of oil, the contract for the supply of which contains a ceiling on energy prices. A similar restriction against Russian oil products should come into force on February 5, 2023. The price ceiling for them has not yet been set.
More details – in the material “Kommersant” “The ceiling is not a decree for them”.
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