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The U.S. Treasury Department has announced sanctions on two companies for allegedly violating a price cap on Russian oil agreed last year by Western countries. Vessels owned by companies based in the United Arab Emirates and Turkey were cited as having violated a price cap set in December by the countries in the Group of Seven leading economies... The coalition set the price cap at $60 per barrel for Russian crude to restrict income for Russian oil that could then be used to fund its invasion of Ukraine. A vessel owned by U.A.E.-based Lumber Marine was found to have violated...

4 Oct, 2022 21:34 EU agrees to impose price cap for Russian oil – Politico The bloc promised “concessions” to overcome opposition from Malta, Greece and Cyprus The EU has reached a tentative deal to impose a price cap on the sale of Russian oil to third countries, Politico Europe reported on Tuesday citing diplomatic sources. Cyprus, Greece and Malta had concerns about the potential impact on their shipping industry, but were reportedly promised concessions. The price cap is part of the eighth round of anti-Russian sanctions, which Brussels is expected to roll out this week, citing the ongoing conflict...