The Company Statement
October 12, 2023

Treasury Sanctions Entities for Transporting Oil Sold Above the Coalition Price Cap to Restrict Russia’s War Machine. The crude oil price cap took effect in December 2022 with a cap on Russian crude oil at $60 per barrel. The SCF Primorye carried Novy Port crude oil priced above $75 per barrel from a port in the Russian Federation after the crude oil price cap took effect. United Arab Emirates-based Lumber Marine SA is the registered owner of the SCF Primorye.

October 13, 2023US sanctions two oil tanker owners for violating Russian price cap
October 13, 2023LUMBER MARINE SA - OpenSanctions
October 12, 2023The US imposed sanctions due to violation of the ceiling on oil prices from Russia
October 12, 2023US imposes first sanctions under Russian price cap on tanker owners
Sanctions List Search - LUMBER MARINE SA
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