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.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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