On April 17, 2023, the OFAC published a warning to U.S. entities about possible evasion of the price cap on crude oil of Russian Federation origin (Russian oil)l, pointing specifically to oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports on the eastern coast of Russia. Through the alert, the OFAC has provided warning signs of possible deceptive practices and the recommended measures to ensure price cap compliance.
Read the OFAC’s alert here.
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