Russian oil price cap: Sanctions focus switches to enforcement as UK sets $1.2m fines
UK’s Office of Financial Sanctions Implementation proposes potential fines in excess of $1.2m for any company caught breaching the rules — significantly higher than US equivalents
UK guidance on how it intends to enforce the Russian oil price cap is finally out, but it has offered little clarity to industry leaders and lawyers. Enforcement, however, is now firmly on the agenda
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