U.S. threatens prison for breaking Russian oil price cap - Bloomberg

According to the media, the U.S. Department of the Treasury has sent letters to 30 companies controlling around 100 tankers, demanding detailed information and documents about their shipments and the companies involved.

"It (the letter) threatened prison if recipients didn’t comply in full," the article states.

Representatives of two insurers told the media that the tone of discussions with the U.S. government has changed in recent weeks.

Along with the letters, the U.S. has imposed sanctions on several specific vessels and their owners, according to Bloomberg. The restrictions apply to lesser-known companies, most of which belong to Sovcomflot, the state-owned Russian tanker company.

Price cap on Russian oil

At the end of 2022, the G7 countries and the European Union imposed price restrictions on Russian oil at $60 per barrel. It is necessary to limit the ability of the aggressor to earn through exports.

By the end of September this year, the Financial Times reported that Russia had managed to increase its commodity revenues despite the restrictions. It circumvents the price cap.

According to the media, Kremlin's oil revenues in 2023 are likely to be at least $15 billion more than expected.