The first gate on Russian crude transshipment is the G7 $60/bbl price cap on Urals. It is not the quoted price that matters but the real transaction price: the cargo on the bill of lading, the amount on the commercial invoice and the trail on the payment evidence must agree, and any item above $60 fails the compliant channel.

Our internal rule is verify before booking: we confirm the three documents are price-consistent before accepting the order. The unit price from invoice amount divided by bill-of-lading quantity must be at or below $60, and the payment path must not route through restricted banks. That gate closes first; warehousing and transshipment follow only after it holds.

Sanctions compliance is a hard constraint: Iranian and Iraqi origin is auto-rejected, no acceptance, no quote, no transit. Within SNSUC's seven-grade transshipment list, Urals enters the channel only when the three documents align and no sanctioned party touches the deal. Compliance is not a cost; it is the precondition for the trade to exist at all.