Recital 15

(15) The price cap mechanism relies on an attestation process that enables operators in the supply chain of seaborne Russian oil to demonstrate that it has been purchased at or below the price cap agreed by the Price Cap Coalition. In order to further support the implementation of, and compliance with, that mechanism, while increasing barriers to the falsification of attestations, Decision (CFSP) 2023/2874 introduces a requirement that itemised price information for ancillary costs, such as insurance and freight, be shared upon request throughout the supply chain of Russian oil trade. In accordance with the Price Cap Coalition tier system for attestations that modulates actors’ compliance obligations on the basis of their access to the purchase price for Russian crude or petroleum products, the itemised price information is to be shared by those actors with access to that information, such as traders and charterers. Actors down the supply chain, such as shipowners and insurers, should be able to collect as part of their due diligence procedures, and share, the itemised cost information provided by actors closer to the origin of such information. Competent authorities can request that information from any actor, regardless of their place in the supply chain, at any time, in order to verify compliance with the price cap mechanism. An appropriate transitional period is provided for.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-17 · Text as adopted (Official Journal); later amendments are not incorporated in this text.