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The U.S. Treasury Department has announced sanctions on two companies for allegedly violating a price cap on Russian oil agreed last year by Western countries. Vessels owned by companies based in the United Arab Emirates and Turkey were cited as having violated a price cap set in December by the countries in the Group of Seven leading economies... The coalition set the price cap at $60 per barrel for Russian crude to restrict income for Russian oil that could then be used to fund its invasion of Ukraine. A vessel owned by U.A.E.-based Lumber Marine was found to have violated...

WASHINGTON — The US House of Representatives approved legislation that would sanction foreign companies that sell gasoline to Iran, as talks on the country's nuclear program were underway in Geneva. The bill would prevent companies that sell gasoline to Iran from holding contracts with the US Energy Department to supply the US Strategic Petroleum Reserve. The ban, adopted as part of the 2010 energy budget, affects companies that have gasoline contracts with Iran that are worth more than one million dollars. It also covers companies that provide Iran with the means to improve their own refining capacity or their ability...