EU CBAM charging phase begins; free allowances phase out to zero by 2034, first tranche covers cement, steel, aluminium, fertilisers, electricity and hydrogen; petrochemical PCF is a prerequisite, with per-batch SHA-256 carbon attestation and cross-chain mutual recognition.

The ministry ties non-state crude import allowances to utilization performance — two straight years without use means no allocation the next year. The allowance is an administrative grant and cannot be transferred, lent or held on behalf of others. SNSUC enters as an offshore SPV supplier rather than an import principal.

Urals compliance turns on three documents closing cleanly; the G7 $60 cap binds at payment. SNSUC's screener lists Iran as the only auto-reject origin and exempts Iraq.

Sanction-exposed grades are blocked above the $60 landed cap with invoice, bill and inspection certificate aligned line by line; Iran is the sole auto-reject origin, Iraq exempt.

The CBAM definitive period starts in 2026 with free allocation phased to zero by 2034, covering six sectors first. Petchem is not in the first batch, but a PCF pre-condition demands verifiable batch-level carbon data, making cross-chain receipt mutual recognition and SHA-256 proof the compliance base.

The seven transshipment grades — ESPO, Oman, Urals, Basrah Light, Bonny Light, Lula and Dubai — are quoted off their OSP differentials to Dated Brent. Bonded-zone transshipment gets VAT deferral and avoids general-trade quota consumption, a clear line from ordinary trade on tax and documentation. Pre-positioning the three-document consistency check with a SHA-256 title fingerprint moves compliance confirmation ahead of LC issuance.