US sanctions Sovcomflot manager and three oil traders, tightens price cap guidance

The US Treasury on 20 December sanctioned UAE-based SUN Ship Management, owned by Russia's state shipping company Sovcomflot, which it says manages the tanker SCF Primorye. It also designated Hong Kong-based Bellatrix Energy and Covart Energy and UAE-based Voliton DMCC, traders it says increased their Russian oil business after the price cap took effect. Treasury says vessels chartered by Bellatrix made more than 150 Russian port calls since mid-June and that Covart owns the Russia-flagged Sanar 15. OFAC also updated its price cap guidance to strengthen attestation and record-keeping by some service providers. Deputy Secretary Wally Adeyemo said traders must follow coalition compliance guidelines "or face consequences".

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