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Spotlight | Africa
Dubai traders Coral Energy and Demex in Washington's sights over sale of Russian oil

Reading time 4 min
An oil terminal in the Black Sea port of Novorossiisk, Russia, May 2018.
An oil terminal in the Black Sea port of Novorossiisk, Russia, May 2018. © Natalya Chumakova/Reuters

The US Office of Foreign Assets Control is investigating several trading firms suspected of selling Russian oil at a price above a cap set by the United States and its allies. They include Demex Trading and Coral Energy, which are particularly involved in Africa.

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