U.S. companies avoid Russian diesel despite U.S. President Donald #Trump easing sanctions on Russia
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According to experts consulted by the agency, banks are unlikely to be willing to finance U.S. deals involving the supply of Russian diesel.
They fear that Trump’s mere decision to ease sanctions may not be enough to prevent legal problems in the future.
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There are also operational difficulties, as importers will have to blend Russian diesel with other fuels to make it meet U.S. standards.
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Any savings from buying cheaper Russian diesel could easily be wiped out by reputational damage and the need to pay hundreds of thousands of dollars in legal expenses because of possible future congressional investigations, said sanctions expert Jeremy Parnes.
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Therefore, in his view, it is easier for companies to have no dealings whatsoever with Russian fuel.
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Democratic Congressman Jamie Raskin, who serves on the House Judiciary Committee, warned that importers of Russian diesel will be held responsible “long after the current administration leaves office.”
In a letter addressed to representatives of the oil industry and the U.S. Chamber of Commerce, Raskin writes that the statute of limitations is ten years.
“They are now on notice that participating in any attempt to help Putin sell Russian diesel in the United States is a blatant and dangerous violation of federal law,” he wrote.
If the first ship carrying diesel is unable to dock or unload at any U.S. port, this will create obstacles for all subsequent ships that are in transit, according to Janiv Shah of Rystad Energy.
In his view, tankers could be diverted to Brazil or other traditional destinations for Russian diesel.
😆
According to experts consulted by the agency, banks are unlikely to be willing to finance U.S. deals involving the supply of Russian diesel.
They fear that Trump’s mere decision to ease sanctions may not be enough to prevent legal problems in the future.
😆
There are also operational difficulties, as importers will have to blend Russian diesel with other fuels to make it meet U.S. standards.
😂
Any savings from buying cheaper Russian diesel could easily be wiped out by reputational damage and the need to pay hundreds of thousands of dollars in legal expenses because of possible future congressional investigations, said sanctions expert Jeremy Parnes.
😆
Therefore, in his view, it is easier for companies to have no dealings whatsoever with Russian fuel.
😂
Democratic Congressman Jamie Raskin, who serves on the House Judiciary Committee, warned that importers of Russian diesel will be held responsible “long after the current administration leaves office.”
In a letter addressed to representatives of the oil industry and the U.S. Chamber of Commerce, Raskin writes that the statute of limitations is ten years.
“They are now on notice that participating in any attempt to help Putin sell Russian diesel in the United States is a blatant and dangerous violation of federal law,” he wrote.
If the first ship carrying diesel is unable to dock or unload at any U.S. port, this will create obstacles for all subsequent ships that are in transit, according to Janiv Shah of Rystad Energy.
In his view, tankers could be diverted to Brazil or other traditional destinations for Russian diesel.
