US aims to tighten price cap enforcement by targeting non-G7 shipowners

The US has targeted foreign tanker owners in its first clampdown on breaching the Russian oil price cap, a move designed to limit Russia’s petroleum exports facilitated by non-G7 firms using Western marine services, sanctions specialists said. Since Dec. 5, the G7 and its allies have banned service providers subject to their jurisdictions from facilitating seaborne Russian crude exports unless…The US has targeted foreign tanker owners in its first clampdown on breaching the Russian oil price cap, a move designed to limit Russia’s petroleum exports facilitated by non-G7 firms using Western marine services, sanctions specialists said. Since Dec. 5, the G7 and its allies have banned service providers subject to their jurisdictions from facilitating seaborne Russian crude exports unless…  Read More