Urals still trades under the Western $60/bbl price cap, and SNSUC enforces a three-document check before any transshipment: commercial invoice, bill of lading and certificate of origin must all line up before release. A missing document or a mismatch in description stops the order at the gate; it never reaches the delivery step.

On sanctions screening, Iran is the only origin under automatic rejection — any order whose load port or origin falls in Iran is blocked before the letter of credit opens. Iraq has been explicitly exempt since 2026-10-02, so Basrah Light and other Iraqi grades move through the normal transshipment lane and are not treated alongside Iran. That red line lives in sanctions_screen.py under ORIGIN_POLICY_VERSION="2026-10-02", and any change requires authorization.