- Secondary sanctions will not be imposed on financial institutions or insurers providing transportation services for Russian oil, a U.S. Treasury Department official said on Monday.
- The G7 and its Western allies have been studying for weeks the idea of exempting Russian oil from the maritime insurance and financing ban from the EU only if that oil is sold at or below a certain price that the group has yet to agree to.
- The U.S. official also noted that the upcoming price cap – expected to take effect on December 5 alongside the EU ban on seaborne imports of Russian crude oil – would apply to crude from Russia in every trade, but not to refined petroleum products.
The U.S. Will Not Use Secondary Sanctions To Enforce A Russian Oil Price Cap
