Justice Department Probes Oil Trader for Potentially Violating Russian Oil Sanctions

U.S. Justice Department investigating if oil trader Mercantile & Maritime Group traded Russian oil violating price cap and sanctions.

Mercantile & Maritime founder Murtaza Lakhani being probed for ties to sanctioned Rosneft CEO Igor Sechin.

Sanctions intended to cut Putin's oil revenue while keeping Russian crude flowing.

Russia saw higher oil revenues in September due to price increases and narrowed discounts.

Average price of Russia's Urals crude was $83/barrel in September, up from $68/barrel in September 2022.