US allows financial transactions related to Russian crude oil supplies
(Baonghean.vn) - The US Treasury Department has published a general license, which includes a clear explanation regarding the restriction on purchasing Russian oil.
Specifically, Washington allows financial transactions related to the supply of Russian crude oil to Bulgaria, Croatia, as well as a number of landlocked EU countries.
The price ceiling on Russian oil, as the US Treasury Department announced, will not apply in cases where significant processing activities are carried out outside Russia.
“In cases where crude oil is processed largely in a jurisdiction other than the Russian Federation… the price ceiling does not apply (e.g., crude oil is refined or undergoes another significant transformation process that causes the product to lose its specific properties and become a new product with a new name, characteristics and uses),” the document states.
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The US only allows transactions related to the unloading of Russian oil in emergency situations involving risks to the lives of the crew and environmental protection.
"All transactions... necessary to address on-board emergencies related to the health or safety of the crew, environmental protection, including docking, safe anchoring, emergency repairs or salvage operations, are permitted," the document states.
The US also allows all transactions involving the seaborne shipment of crude oil to Japan from the Sakhalin-2 project until September 30, 2023, on the condition that “products produced by Sakhalin-2 are fully imported into Japan.”
At the same time, the US Treasury Department said that the restriction on Russian oil prices due to the G7 countries' plan not to cancel the import ban to the US has been put in place./.
