U.S. Treasury Dept. Issues Warning About Buying Russian Crude Above Price Cap | OilPrice.com

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U.S. Treasury Dept. Issues Warning About Buying Russian Crude Above Price Cap | OilPrice.com
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U.S. Treasury Department: ESPO and other crude-oil exports may be trading above the $60-per-barrel price cap imposed by Western countries.

- Apr 18, 2023, 3:00 PM CDT

OFAC said some tankers may be manipulating their automatic identification systems, a practice known as"spoofing,".The U.S. Treasury Department has published a warning to U.S. companies about possible evasion of a price cap on exported Russian oil, pointing specifically to oil exported through the Eastern Siberia Pacific Ocean pipeline and ports in eastern Russia.and other crude-oil exports may be trading above the $60-per-barrel price cap imposed by Western countries.

The price cap was agreed in December as a way to keep Russian oil on the market while reducing oil revenue earned by Russia that could then be used to fund its war in Ukraine.guidance on the implementation of the price cap policy for both Russian crude oil and Russian petroleum products.

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