US slaps sanctions on Sovcomflot manager and traders of Russian oil for price cap breaches

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued new sanctions on Sovcomflot shipmanager and several oil traders for helping Russia evade a cap on its oil price. Sanctions were placed on Sun Ship Management, a Dubai-based subsidiary of Sovcomflot, Russia’s state-backed shipping company. The company, listed on the fleet …

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