Financing and insuring the export of Russian oil will be banned by the end of the year under the latest tranche of EU sanctions on the country. The European Commission unveiled the so-called sixth wave of sanctions on June 3. They include a ban on “insuring and financing the transport, in particular through maritime routes,…| Global Trade Review (GTR)
The UK government has outlined how it expects commodities houses, trade finance banks and insurers to comply with an imminent G7 price cap on Russian oil aimed at hitting Vladimir Putin’s war chest while avoiding further price hikes. The November 14 guidance from the Office of Financial Sanctions Implementation (OFSI) on how it will enforce…| Global Trade Review (GTR)
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)
