US Ups Pressure to Clamp Down on Russian Oil Sanctions Breaches
- OFAC wants details on firms it suspects of breaching sanctions
- It says some companies may have violated G7’s price cap
Oil storage tanks in Tuapse, Russia.
Photographer: BloombergThis article is for subscribers only.
The US has asked at least one shipping insurer for information on 14 companies it suspects may have violated sanctions on Russian oil, a sign Western governments are still trying to limit the ways Moscow exports its fuels.
The American Club — one of a dozen main firms insuring ships against risks such as oil spills and the only to be based in the US — confirmed it received a request for information from the Treasury Department’s Office of Foreign Assets Control and passed that onto its members.