The US Treasury department has imposed sanctions on three shipowners based in the United Arab Emirates, accusing them of exporting Russian crude oil priced above the $60 per barrel limit set by the G7 and Australia.
The move by Washington comes as it tries to increase enforcement of the Russian oil price cap following evidence that it was being widely circumvented. The Financial Times this week reported on data showing that, during October, almost all of Russian oil traded above the G7 price cap.

Read more: ft.com

Photo: ft.com