Tag: G7 Price Cap

G7 Price Cap Investigates Compliance of Foreign Banks with Russian Oil Limits

Oct 23, 2023

—

by

Jinely

in US-Russia

This includes Indian entities, such as the State Bank of India (SBI), Bank of Baroda, and Bank of India, which have operations in the US. The US government’s Office of Foreign Assets Control (OFAC) is currently investigating whether foreign banks operating in the US have adhered to the G7 price cap of $60 per barrel…