Kremlin slams US probe into oil sanctions, says Russia acting in own interests

When questioned on Tuesday about an American investigation into possible violations of Western oil sanctions against Moscow, the Kremlin stated that Russia was operating in its own best interests. During a daily conference call with reporters, Dmitry Peskov, the spokesperson for the Kremlin, also announced that President Vladimir Putin would meet later on Tuesday to discuss the fuel and energy complex. Reuters quoted an official who has access to the documents as saying that the U.S. Treasury Department has sent notices to ship management companies asking for information about 100 vessels it believes are breaking Western sanctions on Russian oil. “We acknowledge that the American authorities continue to pursue sanctions in one way or another, but we adjust to these circumstances and take action that best fits our interests,” Peskov said. Due to the crisis in Ukraine, the Group of Seven, the European Union, and Australia placed a $60 per barrel ceiling on seaborne exports of Russian crude last December. It prohibits Western businesses from offering financing, insurance, and transportation for oil sales above the cap. Due to this year’s surge in oil prices worldwide, a large portion of Russian oil has traded above the cap. Some of the vessels currently under investigation were involved in the lifting of Russian oil from the Pacific port of Kozmino, while others had loaded at the port of Primorsk on the Gulf of Finland, according to the source who was made aware of the new notices. (With agency inputs)