Key facts
- The US Treasury Department has imposed sanctions on Russian oil companies.
- The sanctions are aimed at entities that have allegedly circumvented the G7 price cap on Russian oil.
- The measures are intended to further restrict Russia's revenue from oil exports.
The US Treasury Department has announced new sanctions against Russian oil companies accused of violating the G7 price cap. These measures are designed to tighten restrictions on Russia's oil revenue, a key source of funding for its ongoing conflict. The sanctions target companies that have allegedly employed tactics to circumvent the established price limit for Russian crude oil.