G7 members may revise the price ceiling for Russian oil. This will depend on market conditions or other factors. This was stated by Acting Assistant Secretary of the Treasury for Terrorist Financing Anna Morris in Reuters.
As part of a wide-ranging sanctions mechanism against the Russian oil trade, the United States in February imposed sanctions on the Russian state-owned shipper Sovcomflot and 14 of its oil tankers involved in the transportation of Russian oil.
Morris said that the sale of petroleum products made from Russian oil to Western countries does not violate sanctions.
"As soon as Russian oil is refined, from a technical point of view, it ceases to be Russian oil. If it is refined in the country and then shipped further, from the point of view of sanctions, it is imports from the country of purchase, it is not imports from Russia," she said.
G7 members may reconsider ceiling on Russian oil prices - US Treasury
- Economics
- 04 April 2024 -18:00
-
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G7 members may reconsider ceiling on Russian oil prices - US Treasury
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G7 members may revise the price ceiling for Russian oil. This will depend on market conditions or other factors. This was stated by Acting Assistant Secretary of the Treasury for Terrorist Financing Anna Morris in Reuters.
As part of a wide-ranging sanctions mechanism against the Russian oil trade, the United States in February imposed sanctions on the Russian state-owned shipper Sovcomflot and 14 of its oil tankers involved in the transportation of Russian oil.
Morris said that the sale of petroleum products made from Russian oil to Western countries does not violate sanctions.
"As soon as Russian oil is refined, from a technical point of view, it ceases to be Russian oil. If it is refined in the country and then shipped further, from the point of view of sanctions, it is imports from the country of purchase, it is not imports from Russia," she said.