Take Your Trading To The Next Level. Get Started Here!

US, global partners step up Russian crude price cap enforcement amid efficacy concerns

October 12, 2023 Comments Off

US officials for the first time imposed sanctions on entities violating the $60/b price cap on Russia seaborne crude exports Oct. 12, while a broader international coalition announced its intentions to beef up enforcement as the price cap policy’s impact appears to be fading. Price caps on Russia-origin crude oil and refined products were devised as a carve out for…