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US Companies Can Engage in Russian Oil If Price Cap Observed

OIL

US companies and individuals are allowed to engage in a number of transactions and services involving Russian oil, as long as the price cap is adhered to according to the US Department of the Treasury.

  • They are authorized "to provide certain services as they relate to the maritime transport of Russian oil (the "covered services"), as long as that Russian oil is purchased at or below a certain price (the "price cap")."
  • The services are trading/commodities brokering; financing; shipping; insurance, including reinsurance and protection and indemnity; flagging; and customs brokering.

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