The United States Treasury Department has put three more shipping companies based in the United Arab Emirates under sanction accusing them of carrying Russian oil priced above war-induced ceilings imposed by Washington and its allies.

Oil Tankers SCF Mgmt FZCO, Talassa Shipping DMCC and Zeenit Supply and Trading DMCC, as well as Liberia-based NS Leader Shipping Inc., have been targeted in Washington’s second enforcement action this year under the price cap regime rolled out 2022.

As part of efforts to deprive Russia of funds that it could use in its war in Ukraine, price caps have been enforced by the Group of Seven, including the European Union, and Australia since December 5, 2022. The caps started at $60 a barrel for Russian crude before expanding to include refined products with limits of up to $100 per barrel. The caps for refined petroleum products have taken effect since February 5, 2023.

Read more: rigzone.com

Photo: rigzone.com