Hm Treasury
October 12
13:30
2023
Details
Over a year after the G7 Finance Ministers agreed to establish price caps on seaborne Russian oil, the Price Cap Coalition remains committed to ensuring the measure is implemented and enforced effectively.
The Coalitions new Maritime Safety Advisory will help industry stakeholders reduce risks while promoting the safe flow of oil on the global market.
Action is being taken to impose sanctions on entities whose vessels carried Russian oil sold above the price cap.
Coalition members will continue to work closely with industry to implement the price cap and take action as appropriate if industry participants are found to have breached sanctions.