The Unites States and other countries imposed a $60 a barrel limit last year on Russian oil. Firms in the United Arab Emirates and Hong Kong were identified for sanctions
The U.S. has imposed new sanctions on alleged violators of its price cap on Russian oil and tightened compliance rules for insurance firms and shippers that move it. Firms from
The price cap was rolled out to equal parts skepticism and hopefulness that the policy would stave off Russian President Vladimir Putin’s invasion of Ukraine.