US issues fresh sanctions over shipment of Russian oil above price cap
2023.12.01 11:53
© Reuters. Oil pump jack is seen in front of displayed U.S. and Russian flags in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
WASHINGTON (Reuters) – The United States on Friday imposed additional sanctions related to the price cap on Russian oil, targeting three entities and three oil tankers as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine.
The U.S. Treasury Department in a statement accused those targeted on Friday of using price cap coalition services while carrying Russian above the agreed price cap.
It marks Washington’s latest sanctions action cracking down on the shipment of oil above the Russian price cap as the United States seeks to enforce the punitive measures it has imposed on Russia over the war in Ukraine, which has killed or wounded tens of thousands and reduced cities to rubble.
“Enforcement of the price cap on Russian oil is a top priority for the United States and our Coalition partners,” Treasury Deputy Secretary Wally Adeyemo said in the statement.
“By targeting these companies and their ships, we are upholding the dual goals of the price cap by restricting Russia’s profits from oil while promoting stable global energy markets.”
The Treasury Department on Friday also issued a general license authorizing limited safety and environmental transactions involving those targeted, including transactions necessary for the safe docking and anchoring of the blocked vessels, until Feb. 29.
