WASHINGTON: The US plan to cap the price of Russian oil sales, part of the broader international response to the invasion of Ukraine, will temporarily exempt shipments loaded before the December 5 implementation date, offering some clarity to oil shippers, traders and investors.
The announcement, released Monday, answers one of several key outstanding questions about the plan, which was devised by the US Treasury Department -- what happens to shipments of Russian oil priced above the cap that were loaded before the deadline but remained en route when the regime comes into force.
