The US Treasury issued rough compliance guidelines on Friday for its proposed cap on the price of Russian oil, focusing on the documentation needed by the private sector to comply with the program. The guidance, issued by the Treasury’s Office of Foreign Assets Control, gives private companies the task of enforcing the cap by seeking certification that Russian oil is sold at or below a price set by the US along with other Group of Seven members. The guidance is aimed at the insurance companies and financial firms that facilitate the international oil trade. The cap is meant to be in place by the Dec. 5 for crude oil, ... (full story)