The members of the G7, the European Union and Australia (together, the “Price Cap Coalition“) have agreed to implement a prohibition on the maritime transportation of certain oil (HS code 2709 / CN code 2709 00 / HTS code 2709.00) and oil products (HS code 2710 / CN code 2710 / HTS code 2710) (together “Russian Oil Products”), originating in or consigned from Russia, from a place in Russia to a third country or from one third country to another. The prohibition extends to the provision of financial services, including (re)insurance, in pursuance of or in connection with an arrangement whose object or effect is the maritime transportation of Russian Oil Products….
OIL AND OIL PRODUCTS PRICE CAP – ATTESTATION LETTER
The Association refers to it’s Circulars dated 23rd February 2024 and 29th April 2024 and in particular with reference to the attestations required to be