The $60 cap is not a ban on Russian crude but a rule that above $60 you lose Western insurance, shipping and settlement services. In practice the buyer must always produce three documents: a commercial invoice stating the customs value, a bill of lading proving title transfer, and a carrier certificate detailing the voyage. Only when all three line up is the trade compliant.

SNSUC's resale list includes Urals, but we only touch clean trades where the documented price stays under the line. Every parcel passes the sanctions screen before the letter of credit opens: Iran origin is an automatic reject; Iraq has been explicitly exempt since 2026-10-02 and is not on the auto-reject list.

The usual snag is the invoice basis. The cap is measured on the FOB or net delivered price at the delivery date, excluding freight and insurance. If a trader lumps freight and premium into the invoice total, the documents read as over the line and the whole LC presentation stalls. Our rule is to split unit price, freight and premium into three lines so the trail stays clean.