The G7 $60/bbl price cap on Russian crude boils down to one operating rule: no complete documents, no deal. SNSUC holds a hard line — any cargo from a restricted origin is auto-rejected by the system and never enters the quote pool.

The three documents — certificate of origin, commercial invoice and bill of lading — are non-negotiable, and the invoice price must survive backward tracing. Urals carries a deep discount, but once the deal price breaks the cap, insurance and owners' sides jam and title transfer simply cannot complete. Iran and Iraq origins are blocked the same way, by automation rather than by hand.

For SNSUC's 13 categories and seven transshipment routes, compliance is not a cost centre; it is the entry gate. Encoding the red line in the system rather than in a policy memo is what stops a hot market from being pried open by relationship-based orders.