U.S. Treasury greenlights oil services for Caspian Pipeline and Kazakh Tengizchevroil
Photo: Civil Aviation Committee
The U.S. Department of the Treasury has given the green light for oilfield services related to the Caspian Pipeline Consortium (CPC) and Tengizchevroil projects. The CPC and Tengizchevroil, once caught in the crosshairs of U.S. anti-Russian measures, have now found themselves off the sanctions list, turning over a new leaf. The license opens the floodgates for transactions tied to these projects, which had been under lock and key since the January 2025 "Oil Services Ban."
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