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UAE shipping firm hit with U.S. sanctions for violating $60 price cap for Russian crude oil
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UAE shipping firm hit with U.S. sanctions for violating $60 price cap for Russian crude oil

The U.S. on Thursday hit a United Arab Emirates shipping firm with sanctions after it transported Russian crude oil above the $60 per barrel price cap. This is Treasury’s first oil price cap enforcement action of 2024 — imposed on Hennesea Holdings Limited and its 18 vessels that the U.S. Treasury now considers blocked property. U.S. firms...