U.S. Treasury Releases Guidance on Plan to Capping Russian Oil – Bloomberg

The US Treasury Department announced on the 9th the outline of the guidelines for the plan to set a price cap on Russian oil. Emphasis is placed on explaining the documentation required for private companies to comply with price limits.

The guidelines released by the Treasury Department’s Office of Foreign Assets Control (OFAC) require private companies to prove that Russian oil will be sold at or below prices set by the G7, including the United States, to set a price cap. Contents to be responsible for setting enforcement. The targets of the guidelines are insurance companies and financial institutions that support international oil trade.

The cap will be introduced until December 5 this year for crude oil and February 5 next year for petroleum products, coinciding with the European Union’s ban on imports of Russian oil by sea as the sixth round of sanctions against Russia. rice field.

news-rsf-original-reference paywall">Original title:

news-rsf-original-reference paywall">US Treasury Releases Guidance on Russian Oil-Price Cap Plan (1)(excerpt)

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