Announcement
02 Dec 2022
In December 2022, the U.S. Department of Treasury prohibited entities from providing services facilitating the maritime transport of Russian oil if firms trade Russian seaborne crude oil at or above a price cap of USD 60 per barrel.
Source
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
2 in force
Implementation date
05 Dec 2022
Revocation date:
No revocation date
Controls on commercial transactions and investment instruments
In force
On 2 December 2022, the U.S. Department of Treasury prohibited American entities from providing insurance, trade finance, and other related services to third-country entities if they trade Russian sea...
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Export-related non-tariff measure, nes
In force
On 2 December 2022, the U.S. Department of Treasury announced prohibiting American operators from providing maritime transportation service to third-country entities if they trade Russian seaborne cru...
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Related State Acts
02 Sep 2022
United States of America: Prohibition of services to Russia’s seaborne oil exports above an agreed price cap
03 Dec 2022
EU: Operators prohibited from providing financial and transport services related to Russian oil above USD 60 per barrel
02 Dec 2022
Canada: Government prohibits the provision of financial and transport services related to Russian oil above USD 60 per barrel
02 Dec 2022
United Kingdom: HM Treasury prohibits the provision of services facilitating the maritime transport of Russian oil above USD 60 per barrel
05 Dec 2022
Japan: Government announces actions related to the price cap on Russian oil imports from Russia in response to invasion of Ukraine
07 Dec 2022
Switzerland: Provision of financial and transport services related to Russian oil above USD 60 per barrel prohibited and 2 Iranian military drone manufacturers added to the frozen fund list
27 Dec 2022
Russia: Prohibition of oil exportation to buyers following the price cap
07 Dec 2022
Australia: Government implements price cap of USD 60 per barrel of Russian crude oil
03 Feb 2023
United States of America: Department of Treasury prohibits providing services facilitating the maritime transport of Russian petroleum products above USD 45 or USD 100 per barrel
12 Oct 2023
United States of America: Treasury imposes sanction on entities for carrying Russian crude oil above the price cap
16 Nov 2023
United States of America: Treasury imposes sanction on additional maritime companies for carrying Russian crude oil above the price cap
01 Dec 2023
United States of America: Treasury imposes sanction on several maritime companies for carrying Russian crude oil above the price cap
20 Dec 2023
United States of America: Treasury imposes sanction on four maritime companies for carrying Russian crude oil above the price cap
18 Jan 2024
United States of America: Treasury imposes sanction on a UAE-based maritime company for carrying Russian crude oil above the price cap
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