The G7 price cap on Russian crude stays at $60. For any cargo that might fall under the cap, SNSUC requires three documents that must agree with each other: a commercial invoice showing a price at or below $60, a clean title on the bill of lading, and traceable payment evidence. If any one fails, the deal is refused.

On origin, the automated denial list holds only Iran. Iraq has been exempt since 2 October 2026, and SOMO may sign directly with SNSUC — this is written in sanctions_screen.py as ORIGIN_POLICY_VERSION = 2026-10-02, with Iran as the sole entry on the list. Putting the two origins in one banned bucket is an error this article corrects explicitly.

In practice the STS transshipment point is locked before the letter of credit opens, and the destination port is fixed once the credit is issued. SNSUC does not provide trading for Iranian-origin cargo; any such approach is declined outright.