• Advertise
  • Contact Us
  • Supplier Directory
  • SCB YouTube
  • About Us
  • Login
  • Subscribe
  • Logout
  • My Profile
  • LOGISTICS
    • Air Cargo
    • All Logistics
    • Facility Location Planning
    • Freight Forwarding/Customs Brokerage
    • Global Gateways
    • Global Logistics
    • Last Mile Delivery
    • Logistics Outsourcing
    • LTL/Truckload Services
    • Ocean Transportation
    • Parcel & Express
    • Rail & Intermodal
    • Reverse Logistics
    • Service Parts Management
    • Transportation & Distribution
  • TECHNOLOGY
    • All Technology
    • Artificial Intelligence
    • Cloud & On-Demand Systems
    • Data Management (Big Data/IoT/Blockchain)
    • ERP & Enterprise Systems
    • Forecasting & Demand Planning
    • Global Trade Management
    • Inventory Planning/ Optimization
    • Product Lifecycle Management
    • Robotics
    • Sales & Operations Planning
    • SC Finance & Revenue Management
    • SC Planning & Optimization
    • Supply Chain Visibility
    • Transportation Management
  • GENERAL SCM
    • Business Strategy Alignment
    • Customer Relationship Management
    • Education & Professional Development
    • Global Supply Chain Management
    • Global Trade & Economics
    • Green Energy
    • HR & Labor Management
    • Quality & Metrics
    • Regulation & Compliance
    • Sourcing/Procurement/SRM
    • SC Security & Risk Mgmt
    • Supply Chains in Crisis
    • Sustainability & Corporate Social Responsibility
  • WAREHOUSING
    • All Warehouse Services
    • Conveyors & Sortation
    • Lift Trucks & AGVs
    • Order Management & Fulfillment
    • Packaging
    • RFID, Barcode, Mobility & Voice
    • Warehouse Automation
    • Warehouse Management Systems
  • INDUSTRIES
    • Aerospace & Defense
    • Apparel
    • Automotive
    • Chemicals & Energy
    • Consumer Packaged Goods
    • E-Commerce/Omni-Channel
    • Food & Beverage
    • Healthcare
    • High-Tech/Electronics
    • Industrial Manufacturing
    • Pharmaceutical/Biotech
    • Retail
  • THINK TANK
  • WEBINARS
    • On-Demand Webinars
    • Upcoming Webinars
    • Webinar Library
  • PODCASTS
  • WHITEPAPERS
  • VIDEOS
Home » U.S. Ups Pressure to Clamp Down on Russian Oil Sanction Breaches

U.S. Ups Pressure to Clamp Down on Russian Oil Sanction Breaches

Two people silhouetted in the foreground, looking over a large industrial area at twilight.
Oil storage tanks in Tuapse, Russia. Photo: Bloomberg
September 23, 2024
Bloomberg

The U.S. has asked at least one shipping insurer for information on 14 companies it suspects may have violated sanctions on Russian oil, a sign Western governments are still trying to limit the ways Moscow exports its fuels.

The American Club — one of a dozen main firms insuring ships against risks such as oil spills and the only to be based in the U.S. — confirmed it received a request for information from the Treasury Department’s Office of Foreign Assets Control and passed that onto its members.

Under a policy imposed by the Group of Seven nations and its allies, traders can buy Russian oil as long as it’s below $60 a barrel. If crude exceeds that price cap, then Western companies are prohibited from providing services such as insurance and shipping, which has seen many traditional providers step away. 

The notice said that OFAC had reason to believe some of the 14 companies may have violated the price cap. Some of those entities are already on OFAC’s sanctions list.

It’s not the first time the U.S. has reached out to shipping-services providers about the price cap. Late last year, the Treasury sent letters to oil-tanker companies it suspected may have violated the cap, threatening “criminal fines, imprisonment or both.”

The Treasury didn’t immediately respond to a request for comment.

    RELATED CONTENT

    RELATED VIDEOS

    Business Strategy Alignment Global Supply Chain Management Global Trade & Economics Regulation & Compliance Supply Chain Security & Risk Mgmt
    • Related Articles

      Is China About to Clamp Down on Business Again?

      Asian Nations Push U.S. to Extend Sanctions Waiver on Russian Oil

      EU Agrees to Set $60 Price Cap Level for Russian Oil Exports

    Bloomberg

    Trump’s Energy Chief Says Half of Hormuz Stoppages Restored

    More from this author

    Subscribe to our Daily Newsletter!

    Timely, incisive articles delivered directly to your inbox.

    Featured Product

    Popular Stories

    • A LARGE CYLINDRICAL OBJECT SHRINK-WRAPPED IN WHITE PLASTIC IS LOWERED BY CRANE ONTO A FLAT BED TRUCK ON A DOCK

      AI Boom Has European Buyers Paying Extra to Secure Gas Turbines

      Technology
    • 021_what_is_ai_in_warehousing_and_the_supply_chain- (540p).png

      Watch: What Is AI in Warehousing and the Supply Chain?

      Artificial Intelligence
    • TWO WORKERS IN A WAREHOUSE PUSH ROLLING CARTS LOADED WITH BRIGHT BLUE BINS

      Walmart Caps Usage of an AI Tool for Employees After High Demand

      Artificial Intelligence
    • Close-up hands of unrecognizable man holding and using smartphone standing on city street.

      Five Supply Chain Security Risks Hiding Inside Your Mobile Apps

      Supply Chain Visibility
    • Businessman using AI agent system on laptop computer.

      AI in Supply Chain Can’t Succeed Without Foundational Systems

      Artificial Intelligence

    Digital Edition

    2026 esg cover main scb q2 2026 cover

    SupplyChainBrain 2026 ESG Guide: ESG — The Supply Chain’s Biggest Secret

    VIEW THE LATEST ISSUE

    Case Studies

    • Recycled Tagging Fasteners: Small Changes Make a Big Impact

    • A GRAPHIC SHOWING MULTIPLE FORMS OF SHIPPING, WITH A HUMAN STANDING AT THE CENTER, TOUCHING A SYMBOLIC MAP OF THE WORLD

      Enhancing High-Value Electronics Shipment Security with Tive's Real-Time Tracking

    • A GRAPHIC OF INTERLACING HONEYCOMBED ELEMENTS REPRESENTING GLOBAL BUSINESS TRANSACTIONS

      Moving Robots Site-to-Site

    • JLL Finds Perfect Warehouse Location, Leading to $15M Grant for Startup

    • Robots Speed Fulfillment to Help Apparel Company Scale for Growth

    Visit Our Sponsors

    4flow Arkieva Blue Yonder
    Carton Cloud CoEnterprise Dassault
    Duravant E2Open General Logistics Systems
    Hy-Tek iGPS Korber
    Lyngsoe Procurability Quinyx
    SAP Sikick Systech
    S&P Global Mobility TADA TransImpact
    US Bank Werner Enterprises WSI
    • More From SCB
      • Featured Content
      • Video Library
      • Think Tank Blog
      • SupplyChainBrain Podcast
      • Whitepapers
      • On-Demand Webinars
      • Upcoming Webinars
    • Digital Offerings
      • Digital Issue
      • Subscribe
      • Manage Email Preferences
      • Newsletters
    • Resources
      • Events Calendar
      • 2026 Event Coverage
      • SCB's Great Supply Chain Partners
      • Supplier Directory
      • Case Study Showcase
      • Supply Chain Innovation Awards
      • 100 Great Partners Form
    • SCB Corporate
      • Advertise on SCB.COM
      • About Us
      • Privacy Policy
      • Contact Us
      • Data Sharing Opt-Out

    All content copyright ©2026 Keller International Publishing Corp All rights reserved. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp

    Design, CMS, Hosting & Web Development :: ePublishing