Today, the European Union, together with the other G7+ Price Cap Coalition members issued a compliance and enforcement alert to further enhance the collective action taken to tackle the oil price cap (OPC) evasion attempts. The Price Cap Coalition takes a proactive compliance and enforcement approach. This includes supporting governments and industry stakeholders to improve their compliance with the OPC, identifying suspected evasion and breaches of the OPC, and taking robust enforcement action where necessary.
This alert includes
- an overview of key OPC evasion methods and recommendations for identifying such methods
- and mitigating their risks and negative impacts and information on how to report OPC suspected breaches across the Price Cap Coalition. Along with our Price Coalition partners, we reiterate our strong commitment to imposing sanctions and other economic measures against Russia in response to its illegal war against Ukraine
- Publication date
- 1 February 2024
- Directorate-General for Financial Stability, Financial Services and Capital Markets Union