WASHINGTON (Pakistan Point News / Sputnik - 10th September, 2022) The price cap mechanism on Russian oil implemented by the Group of Seven (G7) countries will provide protections for maritime service providers unknowingly involved in cases resulting from falsified records, the US Treasury Department said in a notice.
"This record keeping and attestation process is designed to create a 'safe harbor' for service providers from liability for breach of sanctions in cases where service providers inadvertently deal in the purchase of seaborne Russian oil above the price cap due to falsified records provided by those who act in bad faith and make material misrepresentations," the notice said on Friday.
