The U.S. Treasury on Friday issued new guidance on a proposed Western price cap on Russian oil exports, saying that maritime services providers would not be held liable for false pricing information provided by buyers and sellers of Russian crude.
that those purchasing Russian crude at prices above the cap who knowingly provide false documentation could be subject to investigations for sanctions violations. It said governments participating in the cap would share such information to help police it.
"Where a service provider without direct access to price information reasonably relies on a customer attestation, that service provider will not be held liable for potential sanctions breaches because of those acting in bad faith" who seek to violate or evade the cap," the guidance said.
The Treasury said the countries participating in the price cap will work together to set the cap levels for Russian crude oil and high-volume and low-volume petroleum product cargoes. At a Brookings Institution event, Harris asked skeptics of the cap to "wait for all the information and perhaps hold your fire before you conclude this will be too challenging to implement."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury Sanctions Iranian Firms for Drone Sales to RussiaThe U.S. Treasury Department announced Thursday that it is levying sanctions against four Iranian companies that it says were involved in sending drones to Russia last month for use in Moscow’s war against Ukraine.
Read more »
Russian officials face fines after calling for 'impeachment' of President Putin | CNNSeveral elected officials in Russia have been summoned by police after they called for the impeachment of Russian President Vladimir Putin.
Read more »
The consequences of Europe’s energy crisis by ViewsroomAs Russian President Vladimir Putin cuts off gas through a key pipeline, Breakingviews columnists discuss the response from UK and European governments, how the shutdown could have some longer-term benefits, and when Russia will feel the squeeze of lost revenue.
Read more »
Europe Holds Emergency Talks on Energy-Market InterventionEnergy ministers, looking to tamp down soaring electricity prices, are discussing measures that include a limit on revenue earned by some producers and a cap on the price of Russian natural gas.
Read more »
Russians' assets in U.S. would give Americans 'heart attacks': Lev ParnasParnas said that after the fall of the Berlin Wall, President Vladimir Putin gave money to Russian billionaires and told them to spend it all over the world, including in the U.S.
Read more »