Russian Urals moving to third markets cannot clear the $60-a-barrel price cap. The cap does not only police the transaction price — it polices the whole payment chain. A buyer bank on G7 clearing rails must see proof that the purchase price stayed under $60, or insurance and reinsurance cut out.

In practice we hold three documents: the commercial invoice, with unit and total both kept inside $60; the bill of lading, where consignee and notify party must match the end user, with no layering that launders the origin; and the payment-path evidence, where the channel traces back to this cargo at this price. Only with all three is title transfer clean and the cargo clears at discharge.

SNSUC runs re-exports without touching sanctioned entities. Urals is one of our seven grades and ships only to compliant third-party destinations. This red line sits in the contract template, not as an after-the-fact fix.