This update outlines the actions taken by U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Feb. 24, 2023, the one-year anniversary of the invasion of Ukraine.
This update addresses the full implementation of the price cap policy for crude oil and petroleum products of Russian origin by the U.S. Department of the Treasury’s Office of Foreign.
This update addresses the full implementation of the price cap policy for crude oil and petroleum products of Russian origin by the U.S. Department of the Treasury’s Office of Foreign.
Following a decision by The Price Cap Coalition of the G7, the European Union and Australia, the European Union introduced a price cap on Russian petroleum products on 4 February 2023.
Introduction - In 2022, the United States, European Union (EU) and United Kingdom, along with a significant number of other partners and allies, imposed an unprecedented.