WASHINGTON (Pakistan Point News / Sputnik - 10th September, 2022) Purchasing significant amounts of Russian oil above the agreed price cap or providing fraudulent information or documentation of the transactions may result in sanctions enforcement, the US Treasury Department said in a guidance document for the policy.
"Persons that make significant purchases of oil above the price cap and knowingly rely on service providers subject to the maritime services policy, or persons that knowingly provide false information, documentation, or attestations to such a service provider, will have potentially violated the maritime services policy and may be a target for a sanctions enforcement action," the guidance said on Friday.
The price cap will be set through a collaborative process of countries who agree to participate in the price cap coalition, according to the guidance.
