The United States is taking additional action today to enforce the Price Cap Coalition’s policies, designating the shipping company Hennesea Holdings Limited, whose fleet includes the HS Atlantica, a vessel that was blocked last year after it transported Russian crude oil priced above the cap while using a U.S.-based service provider.
Today’s action demonstrates that violating the price cap will result in consequences. Alongside our Price Cap Coalition partners across the G7, European Union, and Australia, we are steadfast in our commitment to hindering evasion that helps Russia fund its illegal war against Ukraine.
The price cap policy prohibits Price Cap Coalition services related to the maritime transport of oil of Russian Federation origin unless that oil is bought and sold at or below specific price caps established by the Coalition. The Department of the Treasury actions were taken pursuant to Executive Order 14024 for operating or having operated in the marine sector of the Russian Federation economy. For more information on today’s action, see Treasury’s press release.
