Two Minutes in Trade – U.S. Sanctions on Russia: $60 Oil Price Cap and EAR99 Issues

Tune in for a quick update regarding: (1) the Office of Foreign Assets Control’s (OFAC) warning to U.S. businesses regarding tankers carrying Russian oil sold above the Biden Administration’s $60 price cap spoofing their Automatic Identification Systems (AIS) and fraudulently changing export documentation to obtain prohibited services from U.S. companies and (2) EAR99 items and related export license requirements for Russia.  Thank you for listening.