US sanctions UAE-based Hennesea and 18 tankers over Russian oil price cap

The US Treasury on 18 January designated UAE-based Hennesea Holdings Limited and identified 18 tankers it says the company beneficially owns, including the HS Atlantica. Treasury alleges Hennesea transported Russian crude priced above the $60-per-barrel cap while using US-based service providers after the cap took effect. According to Treasury, the company was set up in late 2022 and bought older tankers shortly before the price cap was introduced. It was designated for operating in the marine sector of Russia's economy. OFAC's list of blocked vessels includes the HS Glory, HS Legend, Nellis and Sara II. Deputy Secretary Wally Adeyemo said anyone who violates the cap "will face the consequences".

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