Page 2 - Covered Services News Today

Current as of June 29, 2023 - This update discusses the May 19, 2023 and subsequent actions taken by the U.S. Department of the Treasury’s Office of Foreign Assets Contro...

On December 7, 2022, the United States, along with the EU and other G7 nations, imposed a price cap of $60 per barrel on crude oil of Russian Federation origin (“Russian oil”),...

On November 22, 2022, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) published a determination targeting Russian-origin crude oil pursuant to section 1(a)(ii) of Executive Order 14071...

This update addresses the full implementation of the price cap policy for crude oil and petroleum products of Russian origin by the U.S. Department of the Treasury’s Office of Foreign...

In this blog post, we update our earlier post regarding OFAC’s determination and guidance on implementing the price cap policy for Russian crude oil…

This update addresses the full implementation of the price cap policy for crude oil and petroleum products of Russian origin by the U.S. Department of the Treasury’s Office of Foreign...

In order to continue restricting Russia’s ability to finance war efforts against Ukraine, on February 3, 2023, the G7 nations implemented two new price caps on seaborne petroleum...

Effective February 5, 2023, the Price Cap Coalition (the Coalition), consisting of the G7 nations, the European Union (EU) and Australia, set a price cap of $45 per barrel for “Discount...

Background - As the Russia-Ukraine war approaches its one-year anniversary with no end in sight, U.S., EU and UK authorities, among other nations, continue to exert...

As the Russian invasion of Ukraine continues, so too does Russia's isolation from the West.