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US Treasury Says No Evidence Russia Evaded Oil Cap, Received Payments Above It

WASHINGTON (Sputnik) - The US Department the Treasury has found no hard data or evidence that Russia is evading the oil-related sanctions by using the coalition service providers and receiving above-the-cap payments, according to prepared remarks by Assistant Secretary for Economic Policy for the upcoming Americas Crude Summit in Houston, Texas.
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"To my knowledge, there is no hard data or conclusive evidence that supports speculation about Russia evading the sanctions by using Coalition service providers and receiving above-the-cap payments," the remarks said on Thursday.
However, there is every chance that Russia "will aggressively seek non-Western services to avoid the cap," the remarks said.
Western countries have been seeking ways to limit Russia's income from oil and gas exports, as well as their dependence on Russian energy products since Moscow launched a special military operation in Ukraine on February 24, 2022. The European Union placed on December 5 a price cap of $60 per barrel on Russian crude oil and was joined by the Group of Seven (G7) nations and Australia.
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In late December, Russian President Vladimir Putin signed a decree banning supplies of Russian oil and petroleum products if contracts directly or indirectly provide for a price cap. According to Kremlin spokesman Dmitry Peskov, the Russian president did not consult with OPEC+ allies before signing off on these countermeasures.
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