https://sputnikglobe.com/20240111/us-reopens-ports-to-russian-oil-despite-sanctions-1116115305.html
US Reopens Ports to Russian Oil Despite Sanctions
US Reopens Ports to Russian Oil Despite Sanctions
Sputnik International
The United States has imported Russian oil for the first time since April 2022. The imports, totaling 36,800 barrels in October and 9,900 barrels in November, were conducted for $2.7 million and $749,500, respectively.
2024-01-11T15:05+0000
2024-01-11T15:05+0000
2024-01-11T15:05+0000
economy
us
business
russia
ukraine
switzerland
treasury department’s office of foreign assets control (ofac)
treasury
european union (eu)
crude oil
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The US imposed a ban on the import of oil, gas, and other energy resources from Russia in March 2022 as part of sanctions related to Russia’s special military operation in Ukraine. Нowever, specific licenses from the US Department of the Treasury's Office of Foreign Assets Control (OFAC) have now made such imports possible.According to the data, the US purchased Russian oil for consumption in both October and November. At the same time, one barrel of Russian oil cost the US $74 in October and $76 the following month. This is significantly higher than the "price cap" set by the country at $60 per barrel.In 2022, the US, along with other G7 countries, the EU, Switzerland, and Australia, implemented price ceilings on Russian oil to reduce Moscow's income. Companies from these nations were prohibited from providing transportation, insurance, and financial services for Russian oil sold above the set limit of $60 per barrel. The price ceilings for petroleum products vary by type, with diesel capped at $100 per barrel and discounted fuel oil at $45 per barrel.
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us imports russian oil, us sanctions on russian oil, us sanctions on russia crude oil, us sanctions on russia, russian oil exports, russian oil price per barrel, russian oil price cap, russian oil price cap sanctions
US Reopens Ports to Russian Oil Despite Sanctions
The United States has imported Russian oil for the first time since April 2022. The imports, totaling 36,800 barrels in October and 9,900 barrels in November, were conducted for $2.7 million and $749,500, respectively.
