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Sanctions on refined oil products were effected on 5 February 2023 [5] and apply to the following Russian oil products falling under combined nomenclature code 2710, [6] being "Petroleum oils and oils obtained from bituminous minerals (excluding crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic ...
NEW DELHI/LONDON (Reuters) -The United States will impose some of the harshest sanctions yet on Russia's oil industry, according to a purported U.S. Treasury document circulating among traders in ...
The latest U.S. sanctions imposed on the Russian oil industry in January have made crude exports to key Asian customers in India and China more costly and complex.
Three years into the war, Russia has withstood wave after wave of sanctions, including the G7 imposing a $60 per barrel price cap on its oil sales. U.S. sanctions have not aimed to stop Russian ...
The Biden administration has imposed some of its toughest sanctions yet on Russia, in a move designed to hit Moscow's energy revenue that is fuelling its war in Ukraine. The measures target more ...
Russia itself reduced discounts on crude exports and at the same time intentionally cut tax revenue streams from exported oil. In September 2023, G7/EU paused its Russian oil cap reviews due to those reasons [385] [386] In late September 2023, it became clear that the Russian oil export industry had largely evaded most economic sanctions.
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on September 2, 2022, finance ministers of the G7 group of nations agreed to cap the price of Russian oil and petroleum products in an effort intended to reduce Russia's ability to finance its war on Ukraine while at the same time hoping to curb further increases to the 2021–2022 inflation surge.
The U.S. Treasury imposed sanctions on Gazprom Neft and Surgutneftegas, which explore for, produce and sell oil as well as 183 vessels that have shipped Russian oil, many of which are in the so ...