• 24/02/2024 07:07

The US introduced new sanctions against Russian diamonds and oil

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) on Thursday, February 8, introduced new sanctions against Russia. They relate to the import of Russian diamonds and oil, reports the press service of the US Treasury Department.

The United States introduced new sanctions against Russian diamonds and oil

In particular, new sanctions were imposed against four companies that were involved in the transportation and sale of Russian oil above the price limit established by the G7 countries.

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Details

Zeenit, based in the United Arab Emirates, sold Russian Urals crude oil for over $80 per barrel in November 2023, which it delivered on the NS Leader.

Zeenit and Talassa were jointly shipping several cargoes of crude oil from Russia using ships that were loaded in Russian ports in 2023.

Restrictions also affected NS Leader Shipping registered in Liberia and Oil Tankers SCF, based in the UAE.

h3>Diamond Import

OFAC also issued two findings banning the import of certain categories of diamonds mined in Russia.

First, OFAC issued a ruling banning the import of non-industrial diamonds mined or mined in Russia, regardless of whether they have been substantially transformed in a third country. This regulation takes effect on March 1, 2024 for certain categories of diamonds and expands on September 1, 2024 to include additional categories.

Secondly, OFAC issued a regulation prohibiting the import of jewelry containing diamonds and ungraded diamonds originating from Russia or exported from Russia. The decree comes into force on March 1, 2024.

“These bans are aimed at fulfilling the G7 commitments of December 2023 to introduce phased restrictions on the import of diamonds mined or mined in Russia,” the message says.

Recall

The “Ministry of Finance” wrote that at the end of January 2024, the Council of the European Union extended economic sanctions against Russia imposed for aggression against Ukraine for the next six months.

minfin.com.ua

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