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Ships at anchor. Photo: Shutterstock / By Zheltikov Dmitry

Kremlin Dismisses US Probe Into Oil Sanctions

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November 14, 2023

MOSCOW, Nov 14 (Reuters) – The Kremlin said on Tuesday that Russia was acting in its own interests when asked about a probe by the United States into alleged violations of Western oil sanctions on Moscow.

Kremlin spokesman Dmitry Peskov also told a daily conference call with reporters that President Vladimir Putin would hold a meeting on the fuel and energy complex later on Tuesday.

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.

(Reporting by Dmitry Antonov; writing by Vladimir SoldatkinEditing by Andrew Osborn and Louise Heavens)

(c) Copyright Thomson Reuters 2023.

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