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United Arab Emirates-based firm, vessels sanctioned by US for violating price cap on Russian oil

( January 18, 2024, 16:46 GMT | Official Statement) -- MLex Summary: The US Treasury Department's Office of Foreign Assets Control (OFAC) is taking its first oil price cap enforcement action of 2024, targeting a shipping company linked to a price cap violation. United Arab Emirates-based shipping company Hennesea Holdings Ltd. was deemed the ultimate owner of 18 vessels, including the HS Atlantica, which OFAC identified as having engaged in the transport of crude oil of Russian origin priced above $60 per barrel while using a covered US-based provider after the price cap policy came into effect. Statement follows below:...

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