OFAC and European Allies Tighten the Net on Russian Oil Trade
In the last several weeks, U.S. and European regulators moved to tighten enforcement of maritime sanctions on Russian oil exports, blacklisting additional companies, vessels and individuals while regional governments scrubbed each other’s lists. Overall market data showed Russian crude exports reacting negatively to the latest of these measures; an incident involving one of those tankers in the Black Sea underscored how their operational and security risks were rising.