U.S. Treasury Designates Russian State-Owned Sovcomflot, Russia’s Largest Shipping Company

OFAC sanctions Russia’s largest state-owned shipping company, Sovcomflot – it took action ‘to responsibly reduce Russia’s revenue from oil sales’ by sanctioning Sovcomflot as well as 14 oil tankers in which Russia’s state-owned shipping company has an interest. ‘The price cap on Russian oil continues to serve its twin goals of limiting Kremlin profits…