News Formal

The US government sanctions two shipping companies for violating the Russian oil price cap

  • 📰 SooToday
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 85%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

WASHINGTON (AP) — The Treasury Department said Thursday that it has imposed its first set of sanctions on two companies that shipped Russian oil in violation of a multinational price cap .

WASHINGTON — The Treasury Department said Thursday that it has imposed its first set of sanctions on two companies that shipped Russian oil in violation of a multinational price cap.

The companies being penalized are based in the United Arab Emirates and Turkey, the department said in a statement. Both companies relied on U.S. service providers. As a result of the sanctions, the Biden administration is blocking the companies' ability to conduct business or access any property or financial interests in the U.S.

The official said that Russia has tried to build an alternative shipping network to avoid the cap, but that has proved to be expensive, with private analyses indicating that it has cost $35 per barrel of oil.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The US government sanctions two shipping companies for violating the Russian oil price capWASHINGTON (AP) — The Treasury Department said Thursday that it has imposed its first set of sanctions on two companies that shipped Russian oil in violation...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »