SNSUC's sanctions screen (ORIGIN_POLICY_VERSION 2026-10-02) lists Iraq as ALLOW and Iran as DENY. Urals is Russian crude — not on the auto-reject list, but bound by the Western $60/bbl price cap. Every batch needs three documents — invoice, bill of lading and load-port inspection report — and the invoice price must stay at or below the cap.

In practice, an Urals cargo above the cap cannot clear normal bank settlement and must use restricted channels, where both risk and cost become unpredictable. SNSUC's rule is firm: no endorsement without complete documents or with an over-cap invoice.

Iraqi crude from SOMO (Basrah Light and others) follows a separate compliant path — the letter of credit names the Central Bank of Iraq (CBIRQAXXX) as beneficiary, with irrevocable payment into the New York Fed's IRAQ OIL PROCEEDS account. Origin compliance and settlement routing run on two parallel tracks and never mix.