Oil Price Cap Teach-in The Office of Financial Sanctions Implementation (OFSI) has recently held several teach-ins on the Maritime Services Prohibition and the related price caps on Russian crude oil and oil products. Due to high demand, we will deliver a further teach-in on Monday 13 March at 15:00 GMT. The […]
Russia – Australia implements G7 price caps on Russian refined petroleum products 24 February 2023 Category International relations Australia has joined the G7 in implementing two price caps on Russian refined petroleum products. On 4 February 2023, G7 countries plus Australia agreed to price caps of USD 100 per barrel […]
Oil Price Cap Teach-ins On 4 February, the Office of Financial Sanctions Implementation (OFSI) published updated guidance for the Maritime Services Prohibition and the related price caps on Russian crude oil and oil products. To further support industry, OFSI will be hosting teach-ins from this week, tailored to specific sectors, including oil, shipping, […]
NEWS 16 February 2023 International sanction 2023 Updated sanctions report The Federal Council on the 15th. Further sanctions against Russia came into force in February 2023. He has amended the regulation on measures relating to the situation in Ukraine (RS 946.231.176.72). The Federal Council on the 15th. February 2023, the sanctions taken in […]
Office of Financial Sanctions Implementation Announcement of the Price Cap Levels for Russian Refined Products The UK, in partnership with the G7 countries, Australia and the European Union, has already implemented a price cap on Russian crude oil trade by firms shipping oil to third countries. This cap was set at […]
EU agrees on level of price caps for Russian petroleum products The Council decided today to set two price caps for petroleum products falling under CN code 2710 which originate in or are exported from Russia. These are the price per barrel at or below which petroleum products from Russia are exempt […]
Without further ado… the new guidance on the price cap: The two Determinations: and: The new versions of GL 56: and 57: The new versions of the GLs also reference the new Determinations in addition to the November 21, 2022 ones. And a statement from Treasury Secretary Yellen: SECRETARY STATEMENTS […]
Links: OFAC Notice Guidance
NEWS 19 December 2022 International sanction 2022 Updated sanction notification The Federal Council on the 16th. December 2022 further sanctions against Russia came into force. To this end, he amended the Ordinance on Measures relating to the Situation in Ukraine (RS 946.231.176.72). In view of the ongoing military aggression against Ukraine and the […]
Canada and G7-plus partners impose price cap on Russian crude oil December 9, 2022 – Ottawa, Ontario – Global Affairs Canada The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced that Canada is imposing further measures in response to the Russian regime’s illegal invasion and attempted annexation of Ukrainian […]
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