Ekaterina Long

Feb 1, 2024 | mondaq.com | Daniel Waltz |D. Michael Kaye |Michael Wray |Ekaterina Long

In coordination with the Price Cap Coalition, OFAC issued a revised Guidance on Implementation of the Price Cap Policy for Russia's Crude Oil and Petroleum Products (Price Cap Guidance) on December 20, 2023. The Price Cap Guidance builds on an a Coalition Advisory for the Maritime Oil Industry and Related Sectors issued by the Price Cap Coalition on October 12, 2023. OFAC expects the US service providers to comply with this guidance by February 19, 2024.