U.S. Treasury imposes additional price cap-related sanctions

Entities and vessels carrying Russian crude oil above the Coalition-agreed price cap

Entities and vessels carrying Russian crude oil above the Coalition-agreed price cap

The U.S. Department of the Treasury today issued a release announcing that the Office of Foreign Assets Control (OFAC) is imposing sanctions on three entities and identifying as blocked property three vessels that used Price Cap Coalition* services while carrying Russian crude oil above the Coalition-agreed price cap.

The sanctions build on Treasury’s previous actions this year:

Read today’s OFAC release for information for identifying information on the entities sanctioned and vessels identified, which also includes:

  • Russia-related General License 78 [PDF 254 KB]—Authorizing limited safety and environmental transactions involving certain persons or vessels blocked on December 1, 2023

* The Price Cap Coalition consists of the G7, European Union, and Australia

For more information, contact a professional with KPMG’s Trade & Customs services:

Doug Zuvich
Partner and Global Practice Leader
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
E: labad@kpmg.com

Irina Vaysfeld
Principal
E: ivaysfeld@kpmg.com

Amie Ahanchian
Principal
E: aahanchian@kpmg.com

Christopher Young
Principal
E: christopheryoung@kpmg.com

Gisele Belotto
Principal
E: gbelotto@kpmg.com

George Zaharatos
Principal
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
E: adoornaert@kpmg.com

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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