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Editor in Chief Mohamed Wadie

US Allows Number of EU Countries to Buy Russian Oil


Wed 23 Nov 2022 | 11:00 AM
Israa Farhan

The US Treasury Department published a general license containing a number of clarifications about the restrictions imposed on Russian oil, as it allowed a number of landlocked EU countries to buy it.

Washington allowed financial transactions related to the supply of Russian oil to Bulgaria, Croatia, and a number of landlocked countries in the European Union.

The department stated that the Russian oil price cap will not be applied if it is refined outside Russia.

The US allowed transactions related to the unloading of Russian oil only in emergency cases, including danger to the lives of the tanker crews carrying it, and the necessities of protecting the environment.

Washington also allowed all transactions related to the sea transportation of crude oil to Japan from the Russian "Sakhalin-2" project until September 30, 2023, provided that "Sakhalin-2" products are imported exclusively to Japan.

The US Treasury confirmed that the restrictions imposed on Russian oil prices, which were planned by the G7 countries do not cancel the ban imposed on its import to the US.