Guidance on Implementation of the Price Cap Policy for Crude Oil of Russian Federation Origin; Publication of Russia-related Determination; Issuance of Russia-related General Licenses

11/22/2022

The Department of the Treasury's Office of Foreign Assets Control (OFAC) has published a Determination pursuant to Executive Order (E.O.) 14071 to implement the price cap policy for crude oil of Russian Federation origin. Additionally, OFAC has published guidance on the implementation of the price cap policy for crude oil of Russian Federation origin. OFAC has also issued Russia-related General License 55, General License 56, and General License 57.