U.S. publication of Price Cap Coalition alert
Overview of key oil price cap evasion methods
Overview of key oil price cap evasion methods
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) today published a Price Cap Coalition Compliance and Enforcement Alert [PDF 111 KB] that includes:
- An overview of key oil price cap (OPC) evasion methods and recommendations for identifying such methods and mitigating risks and negative impacts
- Information on how to report OPC suspected breaches across the Price Cap Coalition*
The OPC evasion methods covered in the alert are related to:
- Falsified documentation and attestations
- Opaque shipping and ancillary costs
- Third-country supply chain intermediaries and complex and irregular corporate structures
- Flagging
- The “shadow” fleet
- Voyage irregularities
* 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 |
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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