"US Expands Sanctions on Russian Oil and Launches AI Safety Consortium"

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on four entities and identified one tanker for violating the price cap on Russian oil, marking the second enforcement action in 2024. The entities, including UAE-based Zeenit Supply and Trading DMCC and Talassa Shipping DMCC, are alleged to have participated in shipping Russian crude oil above the $60 per barrel price cap, set to reduce Russia's oil revenues suspected of funding its war in Ukraine. The vessel NS Leader, owned by the Russian government, was involved in the violation, leading to sanctions under Executive Order 14024 for operating in the marine sector of the Russian economy.