The U.S., alongside the UK and other allies, has escalated sanctions against Russia by targeting Sovcomflot, Russia's premier tanker group, and blacklisting 14 Russian oil tankers to enforce a price cap and hinder Russia's ability to bypass these limits. These actions, as detailed by the Treasury Department, aim to diminish Russia's oil revenue, crucial for its military endeavors. Criticism arises from some quarters, labeling the oil price cap scheme as ineffective and accusing the U.S. Treasury of allowing Russian energy transactions through the U.S. financial system. Despite this, a senior Treasury official noted the discount on Russian oil has widened from about $11-$12 in October to $19 in February, suggesting the sanctions' impact. The official also hinted at the potential for more countries to join the price cap initiative.
US imposes sanctions on Russia's leading tanker group Sovcomflot in move to cut oil sales revenue https://t.co/8xRUP36Tev
The US imposed sanctions on Russian oil-shipping giant Sovcomflot, joining the UK and other allies in a fresh bid to clamp down on Putin’s efforts to evade a price cap on crude exports. https://t.co/kEnfDNmUj1 via @DanielPFlatley
US Blacklists 14 Russian Oil Tankers To Enforce Price Cap https://t.co/rYT8GZCzSc https://t.co/AoDjQG5Pdb
The US imposed sanctions on Russian oil-shipping giant Sovcomflot, joining the UK and other allies in a fresh bid to clamp down on Putin’s efforts to evade a price cap on crude exports https://t.co/K09Wg2J2se
The US tightens oil sanctions on Russia: Today, it sanctioned Sovcomflot, Russia’s state-owned shipping company and fleet operator. It also sanctioned 14 crude oil tankers as property in which Sovcomflot has an interest. Good! https://t.co/ln0ub0eSF4.
US imposes sanctions on #Russia's leading tanker group Sovcomflot #oott https://t.co/r0Xy4U0wY4
U.S. Treasury Designates Russian State-Owned Sovcomflot, Russia’s Largest Shipping Company #oott #Russia https://t.co/842uQ5vk45
U.S. blacklists 14 Russian oil tankers to enforce price cap. #cgtnamerica
Senior U.S. Treasury official: discount Russia earns for oil relative to global prices increased to around $19 in February from about $11-$12 in October. #cgtnamerica
Senior U.S. Treasury official: we may still see additional countries formally aligning with Russian oil price cap. #cgtnamerica
⚠️ US IMPOSES SANCTIONS ON RUSSIA'S LEADING TANKER GROUP SOVCOMFLOT - TREASURY DEPT WEBSITE (Reuters) The U.S. Treasury has imposed sanctions on Russia's leading tanker group, Sovcomflot, the department's website said on Friday, as Washington seeks to reduce Russia's revenues…
U.S. encouraged by 'significant progress' in second phase of the cap on Russian oil price -senior U.S. Treasury official. #cgtnamerica
U.S. sanctions Russia's leading tanker group Sovcomflo. #cgtnamerica
❌ Biden's failed oil price cap scheme allows Putin to fund his war machine. ❌ @USTreasury continues to green light Russian energy transactions through the U.S. financial system. It's past time to close the loopholes and cut off revenue for bad actors. https://t.co/jC46wtd5V1
A price cap on Russian oil by the U.S. and other countries is reducing how much money Russia is able to bring in, according to a Treasury Department analysis https://t.co/F1Wn6z7cGS https://t.co/T7PgW68IfQ