Radio Free Europe 12/20/2023
The United States on December 20 issued new Russia-related sanctions against entities in Hong Kong and the United Arab Emirates that the Treasury Department said have transported Russian crude oil sold above a price cap set last year by Group of Seven (G7) countries.
The department designated what it called "under the radar" traders of Russian oil and a company that is based in the United Arab Emirates but owned by a fleet operator owned by the Russian government.
The Treasury Department said in a news release that the businesses have emerged as "frequent participants in the seaborne transportation of Russian-origin oil" since the price cap was imposed.
The department said that these "little-known oil traders with opaque ownership structures" have emerged and are shipping up to half of Russia's oil exports.
Three companies designated by the United States for sanctions -- Hong Kong-based Bellatrix Energy, Hong Kong-based Covart Energy, and U.A.E.-based Voliton DMCC -- sharply increased their share of trade in Russian oil since the price-cap policy was implemented, the department said.
More:
https://www.rferl.org/a/russia-us-oil-sanctions/32740557.html
