| 6 December 2023, Wednesday |

Kremlin, on U.S. probe into oil sanctions, says Russia acting in own interests

In response to a question on Tuesday concerning the US investigation into possible breaches of Western oil sanctions against Moscow, the Kremlin stated that Russia was operating in its own right.

President Vladimir Putin would meet later on Tuesday to discuss the fuel and energy complex, Kremlin spokesperson Dmitry Peskov also announced during a daily conference call with media.

The U.S. Treasury Department has sent notices to ship management companies requesting information about 100 vessels it suspects of violating Western sanctions on Russian oil, according to a source who has seen the documents.

“We understand that the American authorities do not stop their sanctions aspirations in one form or another, but we adapt to these conditions and act in a way that best suits our interests,” Peskov said.

The Group of Seven countries, the European Union and Australia imposed a $60 per barrel cap last December on sea-borne exports of Russian crude due to the conflict in Ukraine.

It bans Western companies from providing services such as transportation, insurance and financing for the oil sold above the cap.

A rally in global oil prices this year has meant much of Russian oil has traded above the cap.

The source with knowledge of the new notices said that some of the vessels now under investigation were involved in lifting Russian oil from the Pacific port of Kozmino, while others had loaded at the port of Primorsk on the Gulf of Finland.

  • Reuters