Shipping rates for transporting Russian crude have surged since last week after the U.S. took a tougher stance on sanctions for vessels carrying Russia's oil above the G7 price cap
Shipping rates for transporting Russian crude have surged since last week after the U.S. took a tougher stance on sanctions for vessels carrying Russia’s oil above the G7 price cap, traders have told Reuters. Last week, the United States took a tougher stance on the Western sanctions against Russia. The U.S.
Thursday’s sanction move was the first time the U.S. had imposed sanctions for a breach of the price cap. “Today’s action demonstrates our continued commitment to reduce Russia’s resources for its war against Ukraine and to enforce the price cap,” Deputy Secretary of the Treasury Wally Adeyemo said in a statement.
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