US Sanctions Russian Shipping Giant in Bid to Squeeze Oil Sales

The US imposed sanctions on Russian oil-shipping giant Sovcomflot PJSC, joining the UK and other allies in a fresh bid to clamp down on President Vladimir Putin’s efforts to evade a price cap on crude exports.

The Treasury Department also sanctioned 14 crude oil tankers identified as being linked to the company, Treasury said in a statement. The company had already been sanctioned by Australia, Canada, New Zealand and the UK, and faced European Union restrictions. The US had previously sanctioned companies linked to the shipper.

Among other measures imposed on Russia following the February 2022 invasion of ...