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US sanctions Russia’s Sovcomflot and 14 crude tankers in ‘next step’ of price cap enforcement

After announcing sanctions against 500 entities earlier in the day, Ofac capped the two-year anniversary of Russia’s invasion of Ukraine with more sanctions, targeting state-owned Sovcomflot and 14 of its tankers

The US has blacklisted Russia’s state-owned giant Sovcomflot, joining the UK, Australia, Canada and New Zealand. Ofac has issued a general license allowing a 45-day period to offload the sanctioned tankers’ cargoes, and another one authorising transactions with all other Sovcomflot-owned vessels

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