(Finance) – The Office of Foreign Assets Control (OFAC) of the United States Treasury Department has imposed sanctions on three entities operating three ships that have transported Russian oil at a price above the price cap established by the international community as a sanction against the Russian invasion of Ukraine.
“Application of the price cap on the price of Russian oil is a top priority for the United States and our coalition partners – said the Deputy Treasury Secretary Wally Adeyemo – By targeting these companies and their vessels, we are supporting the dual objectives of the price cap, limiting Russia’s oil profits while promoting the stability of global energy markets.”
The crude oil price cap took effect in December 2022 with a cap on Russian crude oil at $60 per barrel. The ships NS Champion, Viktor Bakaev and HS Atlantica were carrying Russian Ural crude at a price above 70 dollars a barrel after the entry into force of the maximum limit. The three vessels utilized the services of U.S. personnel while transporting crude oil of Russian origin.
Sterling Shipping Incorporated, based in the United Arab Emirates (UAE), is the registered owner of NS Champion. Streymoy Shipping Limited, based in the United Arab Emirates, is the registered owner of Viktor Bakaev. HS Atlantica Limited, located in Liberiais the registered owner of HS Atlantica.
As a result of today’s action, all properties and interests in property of the foregoing persons that are located in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. Additionally, all entities that are owned, directly or indirectly, 50% or more by one or more blocked persons are also blocked. All the transactions carried out by US persons or within (or in transit) the United States involving property or interests in property of designated persons are prohibited unless authorized by OFAC.