The US Treasury has provided the first details on how trade finance banks will be required to implement a price cap on Russian seaborne oil exports currently being worked out by the G7. The Office of Foreign Assets Control (OFAC) on September 9 published preliminary guidance on how the price cap will be maintained through…| Global Trade Review (GTR)
The EU has announced plans to ban all imports of Russian LNG and pipeline gas, including supply covered by long-term contracts, in a bid to ensure “full energy independence” from the warring state. The European Commission says it plans to introduce legislative proposals next month that would prohibit imports of Russian gas under spot contracts…| Global Trade Review (GTR)