US Treasury Confirms CPC and Tengizchevroil Exempt from Russia-Related Sanctions

The US Treasury Department’s Office of Foreign Assets Control (OFAC) has officially excluded the Caspian Pipeline Consortium (CPC) and Tengizchevroil (TCO) from restrictions under US sanctions targeting Russia, Orda.kz reports.

The exemption is outlined in General License No. 124, issued on May 15. Under this license, CPC and TCO facilities are no longer subject to the sanctions imposed in January on oil and gas projects.

 

Operations involving the export of Kazakh oil via the CPC pipeline remain lawful under US regulations.

This move comes amid US President Donald Trump's statements regarding additional sanctions targeting Russia’s oil sector.

Still, Washington has maintained a distinction between Russian and Kazakh energy exports. Notably, sanctions on tankers transporting Russian oil have not extended to Kazakhstan’s KEBCO crude.

Origianl Author: Nikita Drobny