Dutch Trader Niels Troost Listed on EU Sanctions: 'Repeatedly Traded Russian Oil Above Price Limit'

brussels, belgium - Niels Troost, a Dutch trader, has been included in the EU sanctions list for allegedly trading Russian oil above the price limit after its introduction.

His company Paramount Energy and Commodities DMCC is said to have 'repeatedly traded Russian oil above the oil price limit following its introduction.'

The price cap for trading in Russian oil was one of the retaliatory measures for the incursion into Ukraine.

To prevent oil revenues from excessively filling the Russian war chest, Western shipping companies, insurance firms, and other service providers were prohibited from participating in the sale of Russian oil above a certain price.

The businessman Troost (55), born in Zaandam, has been working as an oil trader in the international oil market for years. His company Paramount is based in Geneva, Switzerland.

The United Kingdom imposed sanctions on Paramount in November last year, alleging that it had assisted in circumventing boycott measures against Russian oil.

The EU announced a sanctions package against Russia for the fifteenth time on Monday, targeting companies and individuals supporting Russia in the war against Ukraine.