US clarifies Russian oil price cap plan ...News

The Treasury Department released new guidelines for service providers involved in Russian oil trade The US government has issued new rules for companies involved in the Russian oil trade, shipping and insurance, insisting they would face penalties unless they comply with an upcoming Western price ceiling intended to slash Moscow’s energy revenues. Published on Tuesday, the Treasury Department policy guidance said American service providers will be permitted to continue dealing in Russian oil only if it is “purchased at or below the price cap” the exact level of which is yet to be decided. The department claimed th

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