On November 22, 2022, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued a determination acc Executive Order 14071 (EO 14071) (the provision) and a guidance on the implementation of the price cap policy for crude oil of Russian origin (the Guidelines). These followed OFAC’s preliminary guidance, published on September 9 (see Steptoe’s earlier blog post). here). The provision defines the categories of services related to maritime navigation…
