OFAC determined that an Executive Order prohibiting new investment and services to the Russian Federation applies to the maritime transportation of Russian Federation-origin crude oil and petroleum products purchased under a certain price cap.
CFTC Chair Rostin Behnam considered trends in the U.S. Treasury market amidst levels of extreme volatility coupled with record trading volume on global platforms.
The U.S. Senate Committee on Agriculture, Nutrition, & Forestry considered testimony from key regulators and market participants on the bipartisan Digital Commodities Consumer Protection Act of 2022.
Treasury issued "Preliminary Guidance on Implementation of a Maritime Services Policy and Related Price Exception for Seaborne Russian Oil."
A federal jury convicted two former precious metal traders on charges of (i) fraud, (ii) attempted price manipulation and (iii) spoofing for their involvement in a multi-year market manipulation scheme.