By bne IntelliNews|The US Office of Foreign Assets Control (OFAC) has added 17 Liberian-flagged bulk carriers and oil tankers to its Russian sanctions busting blacklist, citing alleged violations related to Western-imposed oil price cap sanctions on Russian oil, it was reported on January 19. Deputy Secretary of the Treasury Wally Adeyemo said the inclusion on the list is the consequence for those violating the price cap that was imposed almost a year ago. “Today’s actions once again demonstrate that anyone who violates the price cap will face the consequences. As bne IntelliNews has reported, the oil price cap sanctions have failed after the Financial Times reported at the end of last year that not one barrel of Russian oil has been sold under the $60 cap imposed by the sanctions. The US Treasury alleges that Hennesea Holdings owns vessels involved in transporting Russian crude oil priced above the $60 per barrel limit.

Source: GNN Liberia January 28, 2024 03:19 UTC