US sanctions a United Arab Emirates shipping firm for allegedly violating Russian oil price cap
The U.S. hit a United Arab Emirates shipping firm and its 18 vessels with sanctions after it transported Russian crude oil above the $60 per barrel price cap
By FATIMA HUSSEIN
Published - Jan 18, 2024, 11:27 AM ET
Last Updated - Jan 18, 2024, 11:27 AM EST
WASHINGTON (AP) — The U.S. on Thursday hit a United Arab Emirates shipping firm with sanctions after it transported Russian crude oil above the $60 per barrel price cap.
This is Treasury's first oil price cap enforcement action of 2024 — imposed on Hennesea Holdings Limited and its 18 vessels that the U.S. Treasury now considers blocked property. U.S. firms and people can no longer conduct business with them.
“Today’s actions once again demonstrate that anyone who violates the price cap will face the consequences,” said Treasury Deputy Secretary Wally Adeyemo. “No one should doubt our coalition’s commitment to stopping those who help the Kremlin.”
A representative from Hennesea Holdings was not immediately available for comment.
