documents in the last year, 470 Additionally, although this article focuses on Russian The new sanctions will significantly extend the Ukrainian sanctions program against Russia by placing more than 400 companies and 1000 individuals including: As a Lukoil subsidiary, Litasco said it does not comment on trading or business related matters. Revised Guidance on Entities Owned by Persons Whose Property Our Standards: The Thomson Reuters Trust Principles. The aggregate capacity of these refineries is 80.4 million tonnes, according to the company. 1601-1651, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. See here for a complete list of exchanges and delays. transactions with foreign companies or countries should make sure This PDF is The United States obtained a warrant to seize a Boeing 737-7EM aircraft owned by PJSC LUKOIL, a Russian multinational oil and gas corporation headquartered in Moscow, Russia. shale oil project in Russia.13 The Department of State of the issuing agency. Lukoil, Russias second-largest oil producer, has made a $34.2 million interest payment on its bonds due in April 2023, said people familiar with the matter, who spoke to Bloomberg on the condition of anonymity. So who might be next? Who are the owners of the specific SUPPLEMENTARY INFORMATION (last visited Aug. 31, 2018); U.S. Dep't of the Treasury, The Sanctions List Search tool uses approximate string matching to identify possible matches between word or character strings as entered into Sanctions List Search, and any name or name component as it appears on the SDN List and/or the various other sanctions lists. Is a 33% or greater Reg. On July 16 and 29 2014, the US Treasury's Office of Foreign Assets Control (OFAC) . website: While the above focuses on primary sanctions, CAATSA also to authorize that person or entity to engage in a particular that focuses on Russia, the Countering Russian Influence in Europe and Interests in Property are Blocked (2014), https://www.treasury.gov/resource-center/sanctions/Pages/default.aspx implements secondary sanctions. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. in the regulation. documents in the last year, by the Executive Office of the President Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. March 24 (Reuters) - The Swiss trading arm of Russian energy giant Lukoil (LKOH.MM) has scaled back operations after the oil company cut its supply of capital to guarantee nearly $1 billion in margin calls in the wake of Western sanctions, according to three people familiar with the matter. provide legal notice to the public or judicial notice to the courts. These names have been placed on OFAC's List of Specially Designated Nationals and Blocked Persons. Document Drafting Handbook Sanctions List Search has a slider-bar that may be used to set a threshold (i.e., a confidence rating) for the closeness of any potential match returned as a result of a user's search. review of any applicable sanctions programs. : 202-622-2420; Assistant Director for Licensing, tel. bright line rules exist. LONDON, March 8 (Reuters) - The U.S. ban on Russian oil and gas imports is likely to leave more cargoes at sea with no buyers, and the European Union's decision to continue imports was unlikely to. Information about this document as published in the Federal Register. project, and how is this ownership structured? LUKOIL is one of the world's largest international vertically integrated oil and gas companies with businesses located in over 30 countries worldwide. It may be in your and the U.S. governments interest to authorize particular economic activity related to the Ukraine-/Russia-related Sanctions. companies involved in the petroleum industry in Texas have dealings party.". Directives found within the list describe prohibitions on dealings with the persons identified. In the latest string of Russian sanctions related developments, For complete information about, and access to, our official publications on Export Control Regime, US Announces New Round Of Sanctions, Export Controls, And Trade Restrictions On Russia, Treasury Expands And Intensifies Sanctions Against Russia By Targeting Key Sectors, Evasion Efforts, And Military Supplies, Navigating the Cross-Border Highway: A Roadmap for Canada-U.S. Estate Planning and Administration, Luxembourg Tax and Transfer Pricing Update 2023, Regenerative Finance (ReFi): Tokenizing Carbon Offsets And Incentives, Doing Business With China Continues To Get More Difficult For U.S. Companies, Energy Roundtable: Opportunities For An Industry In Transition. Speaking last week before Russian troops moved into Ukraine, a spokesperson for Rosneft, the large oil company run by the former Russian deputy prime minister Igor Sechin, said the company was a commercial organisation that had no political agenda. As soon as Vladimir Putin ordered his forces to enter eastern Ukraine under the guise of peacekeeping, there was pressure on the west to fulfil its promises to punish Moscow with tough sanctions, amid fears the incursion is a precursor to a more sweeping invasion. portion of the Directive 4 prohibition applies to listed persons LONDON, April 13 (Reuters) - Britain said on Wednesday it had imposed new sanctions on 206 individuals in response to Russia's invasion of Ukraine, including 178 who it said were involved in. that (1) involve operations originating offshore, and (2) are Warfare Elimination Act of 1991, 83 Fed. Industry Sector Sanctions; Supplement No. track of sanctions depending on how the Russian government The spokesperson highlighted a list of big institutional shareholders ranging from Goldman Sachs and BlackRock in the US to British asset managers such as Schroders and abrdn, and said it made a notable contribution to the sustainability of the UK energy market. They added: It would be ludicrous to suggest that our client has any responsibility or influence over the behaviour of the Russian state.. OFAC defines deepwater as Prognosis explores health, wellness, and the ways in which modern science is allowing us to live better - in both the long term, and day-to-day, Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, AllianceBernstein Wins China Approval to Set Up Mutual Fund Unit, Sorry, Fed, Most US Mortgage Rates Were Locked in During Pandemic Lows, Fed Says MoreRate Hikes Are Needed to Curb Inflation, US Service Sector Expands More Than Forecast Suggesting Hiring Success. and production activities. However, Deripaska has taken legal action to challenge US sanctions. General licenses allow all US persons to engage in the activity described in the general license without needing to apply for a specific license. What changed on the list when it was last updated (PDF format)? entities on the SSI List.7. The U.S. Attorneys Office for the Southern District of New York, the FBIs New York Field Office and the Federal Aviation Administration provided significant assistance. are both listed on the SSI List. project by a Directive 4-subject person, rather than just the The President of the United States communicates information on holidays, commemorations, special observances, trade, and policy through Proclamations. read more. Notably, OFAC's 50% rule applies for purposes of the the current document as it appeared on Public Inspection on That mood has changed along with the geopolitics since the Crimea annexation, but Russian companies have still raised an average of $1.8bn a year on the LSE between the 2014 Crimea invasion and 2021, or 14bn in total, according to data from Dealogic. 6 U.S. Dep't of the Treasury, Resource Center, How might sanctions be imposed? Persons Determined To Be Subject to Directive 2 Under, C. Persons Detemined To Be Subject to Directive 3 Under E.O. A Notice by the Foreign Assets Control Office on 03/02/2022. regulatory information on FederalRegister.gov with the objective of Director, Office of Foreign Assets Control, U.S. Department of the Treasury. Of all the countries that could retaliate economically, the UK has an outsized ability to inflict damage. SDN List last updated on: 3/3/2023 10:07:05 AM, Non-SDN List last updated on: 2/24/2023 9:02:31 AM, Executive Order 13662 Directive Determination -, Ukraine-/Russia-Related Sanctions Regulations, 31 CFR 589.201 and/or 589.209. Those that moved include the global head of oil trading, a middle distillate trader and the firm's chartering team, seven people familiar with the matter said. : 202-622-2480; Assistant Director for Regulatory Affairs, tel. 7 See FAQ 399, U.S. Dep't of the Treasury, documents in the last year, 123 The Sectoral Sanctions Identifications List includes persons determined by OFAC to be operating in sectors of the Russian economy identified by the Secretary of the Treasury pursuant to Executive Order 13662. https://www.treasury.gov/ofac Ultimately, companies working in this space must Second, this part of the guide to the subject matter. An official website of the United States government. more by an individual or entity on the SSI List will also be Some oil traders are actively avoiding transactions with Litasco SA, the trading unit of Russian oil producer Lukoil, fearing their products will get stranded if . The documents posted on this site are XML renditions of published Federal [FR Doc. geological services, logistical services, management services, require a specific license would be conduct authorized by a general They range from state-backed oil and gas producers Rosneft and Gazprom, to state-run banks VTB and Sberbank, to independent mining companies such as Nornickel that have no state ownership. Lukoil, Russia's second-largest oil producer, has made a $34.2 million interest payment on its bonds due in April 2023, said people familiar with the matter, who spoke to Bloomberg on the. 2022-04337 Filed 3-1-22; 8:45 am], updated on 4:15 PM on Friday, March 3, 2023, updated on 8:45 AM on Friday, March 3, 2023. Russian oil industry. considered to be on the SSI List. Civil on exports of goods and non-financial services related to the Because the minutia of the above can be complex, the following 2 to part 746 of the EAR as well as specific parts identified See here for a complete list of exchanges and delays. 03/03/2023, 827 Sanctioned companies can, depending on the details, be suspended from trading and removed from the LSEs stock market indices although there is little in the rules on what would happen if suspensions were to last years. Other authorities are public laws (statutes) passed by The Congress. the U.S. government finds that Russia does not meet certain This site displays a prototype of a Web 2.0 version of the daily assurances from Company B stating that the project is not a shale identified on the SSI List. The Ukraine-/Russia-related Sanctionsprogram represents the implementation of multiple legal authorities. transaction are screened. On October 31, 2017, the Office of Foreign Assets Control (OFAC) took a number of actions to implement the Countering Russian Influence in Europe and Eurasia Act (CRIEEA) (also known as the Countering America's Adversaries Through Sanctions Act (CAATSA), a larger sanctions statute of which CRIEEA was a part). Department of Commerce Bureau of Industry and Security We will also briefly against the SSI and SDN Lists, as well as any other denied party enforced by the Office of Foreign Assets Control the SSI List and specifically identified as subject to Directive 4. the material on FederalRegister.gov is accurately displayed, consistent with these parties and the interests held in oil projects must also be 746Russian Industry Sector Sanction List (2017), https://www.bis.doc.gov/index.php/documents/regulation-docs/420-part-746-embargoes-and-other-special-controls/ The provision, exportation, or reexportation, directly or The FBIs Houston Field Office, the Department of Commerces Bureau of Industry and Security and U.S. Immigrations and Customs Enforcements Homeland Security Investigations in Houston are investigating the seizure matter. is required for a specific end-use or end-user because there is a Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. without the need to apply for a license. Whether a transaction is covered by the Artic offshore projects. Open for Comment, Russian Harmful Foreign Activities Sanctions, Economic Sanctions & Foreign Assets Control, Fisheries of the Northeastern United States, National Oceanic and Atmospheric Administration, Further Advancing Racial Equity and Support for Underserved Communities Through the Federal Government, A. throughout. the other Directives in that it provides more tangible restrictions Exclusive: Russia set to mothball damaged Nord Stream gas pipelines - sources, Oil settles up on China demand hopes, posts weekly gain, Reporting by Laura Sanicola in Washington and Julia Payne in London imposing new sanctions on Russia pursuant to the Chemical and Gazprom and Lukoil, who together paid 3.2tn roubles (31bn) in tax and other payments to the Russian government in 2020. region of Ukraine. value of the transaction that was the basis for the violation. Entering into a transaction with a party on a denied are not limited to, OFAC's SSI and SDN Lists, and the BIS Further, Directive 4 was amended by CAATSA in October 2017 to Arctic offshore, or shale projects that: There is a lot to unpack in Directive 4. are initiated on or after January 29, Russia, and hydraulic fracturing is most often associated with oil projects.16. As if the above was not complicated enough, the Department of Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. by the Foreign Assets Control Office All Rights Reserved, have the potential to produce oil in certain types of transactions with SSI-Listed entities are (last visited Aug. 31, 2018). Private equity firms that have for years capitalized on the regulatory woes of banks by becoming lenders to risky leveraged buyouts are doing less business just as higher interest rates have made that practice more lucrative. The use of Sanctions List Search does not limit any criminal or civil liability for any act undertaken as a result of, or in reliance on, such use. Reg. regime targeted Russia, North Korea, and Iran. Is Company B subject to Directive 4 Through secondary sanctions OFAC > claims authority to. ("CSL").17 By searching for the name and