G7 Coalition Approach to Oil Price Cap

The compliance and enforcement alert builds on Guidance released since the oil price cap (OCP) began in December 2022.

Information is provided for industry stakeholders on:

• Key OPC evasion methods alongside recommendations for identifying such methods and mitigating their risks and negative impacts; and
• How to report OPC suspected breaches across the Price Cap Coalition.

Industry stakeholders involved in the trade of Russian oil and oil products should review the alert, and consider adopting its recommendations as to improve their compliance with the OPC and reduce their exposure to possible circumvention and evasion risks.