U.S. Treasury Dept. Issues Warning About Buying Russian Crude Above Price Cap

The U.S. Treasury Department has published a warning to U.S. companies about possible evasion of a price cap on exported Russian oil, pointing specifically to oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports in eastern Russia. The department's Office of Foreign Assets Control (OFAC) said on April 17 it was aware of reports that ESPO and other crude-oil exports may be trading above the $60-per-barrel price cap imposed by Western countries.

OFAC issued an alert addressing possible price cap evasion, naming Kozmino…