On Sept. 2, 2022, G7 finance ministers issued a joint statement confirming their intention to implement a price cap with respect to Russian-origin crude oil and petroleum products. As described in the statement, the G7 countries - along with other allies and partners - plan to prohibit the provision of services that enable maritime transportation of such oil and products, unless purchased at or below a price level determined by the coalition of countries adhering to and implementing the price cap.

For this special edition of our sanctions monthly update, we will be joined live by US Treasury officials Elizabeth Rosenberg, Assistant Secretary for Terrorist Financing and Financial Crimes, and Andrea Gacki, Director of OFAC. The session addresses the US Treasury’s efforts to advance price cap policy, discuss the policy’s goals, governance, and implementation considerations. This session will feature a live Q&A.