U.S. OFAC issues Russia-related guidance concerning price cap policy for crude oil
Guidance, determination, and general licenses
Concerning price cap policy for crude oil
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued the following Russia-related guidance concerning the price cap policy for crude oil of Russian origin:
- Guidance on the implementation of the price cap policy for crude oil of Russian Federation origin [PDF 365 KB]
- Determination pursuant to Executive Order (E.O.) 14071 to implement the price cap policy for crude oil of Russian Federation origin [PDF 1.3 MB]
- General License 55 [PDF 228 KB]—Authorizing certain services related to Sakhalin-2
- General License 56 [PDF 199 KB]—Authorizing certain services with respect to the European Union
- General License 57 [PDF 197 KB]—Authorizing certain services related to vessel emergencies
For more information on sanctions and other responses to Russia’s war on Ukraine, visit KPMG’s dedicated website.
Contact a professional with KPMG’s Trade & Customs services:
Doug Zuvich |
John L. McLoughlin |
Andy Siciliano |
Steve Brotherton |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Christopher Young |
Gisele Belotto |
George Zaharatos |
Andy Doornaert |
Jessica Libby Principal E: jlibby@kpmg.com |
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.