Disputes for Tea | Sanctions – 18 January 2023

Disputes for Tea | Sanctions

“The International Coalition Price Cap on Russian Origin Crude Oil and Petroleum Products – Learning from the Crude Oil Cap in Preparation for the Products Cap”

Wednesday, 18 January 2023, 09:00 EST / 15:00 CET

5 December 2022 marked implementation of the price cap for Russian Federation crude oil agreed upon by the Group of Seven plus the EU and Australia. As of 5 February 2023, a parallel price cap on petroleum products is planned for implementation.

The price caps operate by prohibiting covered persons from providing certain services related to maritime transportation unless the crude oil (and, shortly, petroleum product) is purchased at or below a designated price.

In our disputes for tea/breakfast session, our Edward Floyd and Friederike Schäfer will have a closer look at the price cap mechanisms and their impact on varying tiers of actors in the transportation sector.

Our discussion will address the who, what, when, where, and how of the price caps. We will shine a light on potential issues, ranging from compliance to contracts, from a multi-national perspective.

Please join us on 18 January 2023 at 09:00 EST / 15:00 CET for an insightful assessment of these important cross-border developments.