The United States Treasury Department's Office of Foreign Assets Control (OFAC) warned Americans on Monday about "possible evasion" of the price cap imposed on Russian crude oil.
Ednews reports citing Reuters that OFAC stressed that it is "aware of reports" that oil exported through the Eastern Siberia Pacific Ocean (ESPO) and other Pacific ports "may be trading above the price cap and may be using covered services provided by US persons," warning that some US service providers may be "unaware that they are providing covered services involving Russian oil purchased above the price cap" because of potentially receiving "incomplete or false" documentation.
The Treasury urged US service providers to be aware of the "risk of evasion" and take "appropriate due diligence measures."