U.S. OFAC alert on possible evasion of Russian oil price cap
Particularly involving oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports on the eastern coast of Russia
Particularly involving oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipel
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today published an alert concerning the possible evasion of the Russian oil price cap.
The alert [PDF 282 KB] warns U.S. persons about possible evasion of the price cap on crude oil of Russian origin, particularly involving oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports on the eastern coast of Russia.
Background
U.S. persons are authorized to provide certain services related to the maritime transport of Russian oil as long as that oil was purchased at or below the relevant price cap. U.S. persons providing covered services are required to reject participating in an evasive transaction or a transaction that violates the price cap determinations, and to report such a transaction to OFAC.
For more information, contact a professional with KPMG 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 |
| John Anderson Managing Director E: johneanderson@kpmg.com |
Jenna Leigh Glass Managing Director E: jennaleighglass@kpmg.com |
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