Updated Price Cap Coalition Advisory for the Maritime Oil Industry and Related Sectors

Date issued: Oct. 21 2024

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TURBOFAC Commentary (354 words)

Notes:

1) This is an updated version of a document originally issued on October 12, 2023. See Price Cap Coalition - Advisory for the Maritime Oil Industry and Related Sectors - Best Practices in Response to Recent Developments in the Maritime Oil Trade, and see the native PDF file associated with this document for a redline comparing the prior and updated versions.

2) Read in conjunction with other Price Cap compliance documents, including OFAC’s Guidance on Implementation of the Price Cap Policy for Crude Oil and Petroleum Products of Russian Federation Origin (Updated on December 20, 2023), OFAC’s Possible Evasion of the Russian Oil Price Cap alert, and two somewhat similar documents issued by the “Price Cap Coalition”, i.e. Statement of the G7 and Australia on Actions Taken to Enforce Price Caps...