Marine Advisory: 06/2024 (Revised) - REGULATION IN FURTHERANCE OF THE PRICE CAP FRAMEWORK FOR OIL OR PETROLEUM PRODUCTS OF RUSSIAN FEDERATION ORIGIN

REGULATION IN FURTHERANCE OF THE PRICE CAP FRAMEWORK FOR OIL OR PETROLEUM PRODUCTS OF RUSSIAN FEDERATION ORIGIN

WHEREAS Section 12 of Liberia Maritime Law vests in the Deputy Commissioner of Maritime Affairs the authority to make and promulgate Regulations and Rules for matters pertaining to Liberian flagged vessels, and such Regulations and Rules shall have the force and effect of law.

Whereas, the United States Department of Treasury issued on February 3, 2023, and revised on December 20, 2023, the OFAC Guidance on Implementation of the Price Cap Policy for Crude Oil and Petroleum Products of Russian Federation Origin to implement the price cap policy.

Whereas, the European Union and United Kingdom have updated their Price Cap Policies effective September 3, 2025.

NOW, THEREFORE, the following Regulation, as contained in all of the paragraphs stated hereunder, is hereby promulgated with full legal force and effect:

1. Shipowner and/or manager must provide to the Liberian Administration, a signed attestation within 30 days of a vessel lifting or loading Russian oil or Russian petroleum products.
2. Shipowner and/or manager shall utilize the Liberian Administration’s standard attestation form “PER-VOYAGE PRICE CAP ATTESTATION.”
3. Parties must retain relevant attestation records for applicable voyages for a minimum of five years.
4. Vessels found to be in violation of the Price Cap framework and/or unable to provide additional information as required, may be de-flagged from the Registry.
5. Shipowner and/or manager will indemnify the Liberian Administration, and its agents and representatives (collectively the “Liberian Administration”), for any enforcement actions, regulatory actions, penalties, costs, damages, liabilities, or claims, whether against the vessel or the Liberian Administration, as a result of any untrue or misleading statement made in the signed attestation.

Effective Date: This Regulation shall become effective immediately upon publication as prescribed by law.

Dated this 2^nd day of September 2025.

Margaret C. Ansumana

Sr. Deputy Commissioner of Maritime Affairs, Republic of Liberia

APPENDIX

PER-VOYAGE PRICE CAP ATTESTATION

Vessel Name / IMO Number:

As the shipowner and/or manager of the above referenced vessel, _

(“Company”) confirms that such vessel has loaded or will load oil or a petroleum product in compliance with the Price Cap Policy set out by the U.S. Department of the Treasury, and, as applicable, the EU and/or UK Price Cap Policies.^[1]

Actual or Anticipated Loading Date

Signature of Authorized Representative or Attorney-in-fact

Name

Title

Date

1. This “Per-Voyage Price Cap Attestation” is consistent with and pursuant to the OFAC Guidance, dated February 3^rd, 2023, and revised on December 20^th, 2023, OFAC Guidance on Implementation of the Price Cap

   Policy and, as applicable, the UK’s OFSI updated price cap and/or EU’s updated price cap, effective September 3^rd, 2025 ↑