US imposes sanctions for violations of Russia oil price cap
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Liberian-flagged crude oil tanker Ligovsky Prospect is pictured in Tutunciftlik in the western city of Izmit, Turkey December 15, 2019. REUTERS/Yoruk Isik/File Photo
WASHINGTON - The U.S. Treasury Department said on Thursday it had put sanctions on three entities based in the United Arab Emirates (UAE) and one registered in Liberia for violating a cap placed on the price of Russian oil by a coalition of Western nations.
The Treasury also said it had taken steps to bar the import of certain categories of diamonds mined in Russia, another step designed to deprive Moscow of foreign revenues following the 2022 invasion of Ukraine.
In a statement, the Treasury Department said it had imposed sanctions on three UAE-based entities - Zeenit Supply and Trading DMCC, Talassa Shipping DMCC and Oil Tankers SCF Mgmt FZCO - as well as on Liberia-registered NS Leader Shipping Incorporated.
The price cap imposed by the Group of Seven countries, the European Union and Australia bans the use of Western maritime services such as insurance, flagging and transportation when tankers carry Russian oil priced at or above $60 a barrel. REUTERS
