24 maritime news articles about Russian Oil Price Cap
Please note that the EU and UK have confirmed that, effective 23:01 GMT 31 January 2026 (UK) / 1 February 2026 (EU), the price cap for Russian crude is
Circular issued by International Group clubs Circular issued by International Group clubs Changes to the Oil Price Cap Reference is made to Circular from 1 February 2024 wherein changes to the Oil Price Cap ( OPC ) scheme (which regulates the transport and insurance of Russian CN 2709 and CN 2710 cargoes) coming into e
Following the adoption of the EU's 16th sanctions package on 24 February 2025, as detailed in Council Regulation (EU) 2025/395, there have been significant
This circular highlights the requirement for Members to provide voyage attestations and an alert from the Price Cap Coalition.
Reference is made to Member Circular 2708/2024 wherein changes to the Oil Price Cap (OPC) scheme (which regulates the transport and insurance of Russian CN
Home Publications Articles Bimco Updated Russian Oil Price Cap Scheme Clause 2024 Bimco Updated Russian Oil Price Cap Scheme Clause 2024 BIMCO has released an updated Russian Oil Price Cap Scheme Clause, reflecting changes effective from 19 February 2024. These include the need for per-voyage attestations and itemised
Circular reminding Members of their obligations under the Oil Price Cap Scheme and outlining the information contained in the recent Oil Price Cap Compliance and Enforcement Alert issued by the Price Cap Coalition.
The G7 price cap coalition has published an update on the application of the price cap rules. The rules will take effect on 19 February 2024 (UK and US) and for cargoes loaded on or after 20 February 2024 (EU).
This Member Alert is applicable to all insurance classes (lead and follow) from 19 February 2024. Home / News / Member Alert / G7 – Per Voyage Price Cap Attestation Member Alert G7 – Per Voyage Price Cap Attestation 20 February, 2024 LEAD AND FOLLOW LINE Marine risks (all classes including War) and/or P&I and FD&a
Skuld and other members of the Nordic Association of Marine Insurers (Cefor) have released a Hull & Machinery circular relating to the updated requirements, including a form of per voyage price-cap per-voyage attestation. The G7 price cap coalition has published an update on the application of the price cap rules.
Per-voyage attestation requirement applicable from 19 February 2024 Home / News / Circulars / Cefor G7 – Price Cap per Voyage attestation 14 February 2024 Circulars – Marine – No: 445/2024 Cefor G7 – Price Cap per Voyage attestation 14 February 2024 14 February, 2024 Per-voyage attestation requirement applicable from 1
This circular highlights recent key developments in the sanctions imposed against Russia by the UK, EU and US.
Circular issued by International Group clubs This circular highlights recent key developments in the sanctions imposed against Russia by the UK, EU and US. The Price Cap Members should refer to our Price Cap Circular dated 9 December 2022 for details of the Price Cap scheme which regulates the transport and insurance
Home Publications Articles Price Cap Coalition Price Cap Coalition Publications Steamship Mutual Published: November 03, 2023 Contact author Download article pdf On 12 October 2023 the Price Cap Coalition published a “Best Practice” advisory on price cap compliance: Price_Cap_Coalition_Advisory_Maritime_Safety_October_
On 21 October 2024, the Price Cap Coalition ("Coalition") issued an Updated Advisory for the Maritime Industry which sets out best practice recommendations for those involved in the trade of Russian origin crude oil and petroleum products. The update also covers OFAC’s Compliance Communiquè on sanctions compliance gui
Circular issued by International Group clubs Circular issued by International Group clubs UK Reporting requirements On 4 December 2022, the UK Government issued General Licence INT/2022/2469656 ("GL") to implement the EU/G7 price cap in respect of Russian origin crude oil, which was amended on 3 February 2023 to implem
Effective December 4, 2022, the UK Government enacted General Licence INT/2022/2469656 (GL) to enforce EU/G7 price limits on crude oil of Russian origin.
Click here to download the circular in PDF format» Home / News / Circulars / Russian Oil Price Cap update: Reporting requirements and Evasion alert Circulars – P&I – No: 2696/2023 Russian Oil Price Cap update: Reporting requirements and Evasion alert Göteborg: 3 May, 2023 UK Reporting requirements Click here to dow
Reasons why The Swedish Club requires the attestation Doc: Attestation Russian crued oil Download the complete document
On 5 February 2023 the Price Cap Scheme intended to curb the revenue Russia derives from its petroleum exports was expanded as planned to set price caps for
Circular issued by International Group clubs UPDATE – 10 February 2023 On 5 February 2023 the Price Cap Scheme intended to curb the revenue Russia derives from its petroleum exports was expanded as planned to set price caps for petroleum products of Russian origin which fall under CN code 2710. Two price caps have bee
On 5th February 2023, the Price Cap Scheme intended to curb the revenue Russia derives from its petroleum exports was expanded as planned to set price caps f...
Please check the complete circular below. Home / News / Circulars / P&I Circular 2688/2022 Price cap on Russian oil Circulars – P&I – No: 2688/2022 P&I Circular 2688/2022 Price cap on Russian oil Gothenburg: 9 December, 2022 Please check the complete circular below.
The EU, G7 and Australia (the “Price Cap Coalition”) has recently introduced legislation and guidance effective 5 December 2022 intended to maintain the supp...