“In the event that crude oil has been significantly transformed in a jurisdiction other than the Russian Federation ... the price limit no longer applies,” the agency cites the text of the document.
The agency cited the example of a fuel being recycled or undergoing another “substantial transformation”, after which the product “loses its identity” and is transformed into a new one with an updated name, characteristics and use.
Previously, the agency allowed transactions related to the unloading of Russian oil only in emergency situations.