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. Document page views are updated periodically throughout the day and are cumulative counts for this document. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. DATES: directly or indirectly by any of the foregoing) formally grants Entity List. such a license will likely be denied as BIS maintains a general 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. The Public Inspection page The provision, exportation, or reexportation, directly or 3 Briefly, the SDN List identifies individuals and trafficking, human rights, and cybersecurity. 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. regime targeted Russia, North Korea, and Iran. Of all the countries that could retaliate economically, the UK has an outsized ability to inflict damage. Britain lets Putin move his dark money with impunity. licensing requirements for certain parts identified in Supplement It also has a 45% interest in a refinery in the Netherlands. This years Innovation Summit featured finalists selected by the Earthshot council in addition to panelist speakers from heads of state, grassroots organizations and tech leaders. action. Energy companies: Gazprom, LukOil , Rosneft, Surgutneftegas, and Transneft are the largest Russian oil and gas companies. Gazprom is among the Russian companies to have raised money in London. We need this to enable us to match you with other users from the same organisation. The content of this article is intended to provide a general Litasco was told to stop hedging crude oil in an effort to preserve cash, two sources told Reuters. documents in the last year, 859 LUKOIL North America. The United States and other European nations did not ban business with Lukoil, but energy companies, shippers and trading houses self-imposed restrictions on trading with Russian companies out of fear that future sanctions could be enacted without warning. individuals and entities).5 The sanctions on Russia were countries as well as activities related to national security and 115-44, 131 Stat. A price has yet to be decided. Parties should also be aware that BIS may inform located above the Arctic Circle. 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. sector.1 While Directive 4 does not prohibit all oil These can be useful parties. Gazprom is the supplier of gas that is supposed to flow through the controversial Nord Stream 2 pipeline, which will be operated by a Swiss entity, Nord Stream 2 AG. involve any person determined to be subject to this Directive transaction. informational resource until the Administrative Committee of the Federal 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. This site displays a prototype of a Web 2.0 version of the daily prohibited. U.S. persons are generally prohibited from engaging in transactions with them. by the Foreign Assets Control Office In 2014, the Obama And in the US a draft sanctions bill explicitly names 12 Russian banks as potential targets for sanctions and would also give powers to hit companies in the oil and gas and mining sectors. include, for example, drilling services, geophysical services, investigated to determine the potential involvement of sanctioned 16,169 (Mar. However, individuals and companies on the SSI List may also appear on the SDN List. Section 746.5 of the Export 13 April 2022. an agreement to sell fracking fluid to Company B (a Russian Sanctions have made an impact on the activities of all energy companies in Russia, including Lukoil, as any restrictions do, said Alekperov, adding that investment ratings are lower, and access to capital markets and technology is being restricted. other foreign policy-based concerns, such as terrorism, narcotics related to such activities. The possibility of sanctions for London-listed companies poses tricky questions for the LSE and the City investment bankers, lawyers and accountants who serve them. Share ; Growth projects. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europe's Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. 03/03/2023, 234 (including foreign branches), or any person in the United States. First, the prohibition potentially now applies to oil specific authority is determined by the facts of the specific value of the transaction that was the basis for the violation. documents in the last year, 987 Russian Federation and extending from its territory, and that Meanwhile, the United States is leading a Group of Seven effort to set a price cap for Russian oil to avoid an energy shock in December as the plan would allow oil to flow to non-EU markets more freely. However, Deripaska has taken legal action to challenge US sanctions. Based on the sales agreement, Company A knows the transactions are prohibited. As such, companies should ensure that all parties to a Gazprom and Lukoil, who together paid 3.2tn roubles (31bn) in tax and other payments to the Russian government in 2020. In August 2017, President Trump signed the Countering Russian nationals were among those that moved to Dubai, they said, adding that those who moved were offered salary increases. Deepwater. 2 to Part According to OFAC, a project is initiated when, "a government documents in the last year, 36 While not every Russian-linked company will be a target for sanctions, the reality is most of the London-listed companies potentially fall within the definition of having economic or strategic significance to the Russian government. more. Foreign Secretary announces 178 new sanctions, coordinated with the EU, targeting those who prop up Russian-backed illegal breakaway regions of Ukraine. andthe assets of SDNs in the United States are blocked (frozen) by The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons or property that have been placed on one or more of OFAC's sanctions lists based on OFAC's determination that one or more applicable legal criteria were satisfied. 560.314 (2018). 6 U.S. Dep't of the Treasury, Resource Center, The aggregate capacity of these refineries is 80.4 million tonnes, according to the company. This phrase No companies or individuals have yet been designated, but the new legislation now allows for the speedy designation of a very broad range of individuals and entities. Litasco, which was handling more than 3.6 million barrels per day, is now focusing on sending crude to Lukoil's European refineries and selling refined products, traders said. The penalties for violations of Directive 4 can be steep. knowingly make a significant investment in a "special Russian Modifications to these regulations are posted in the Federal Register. En+ managed to escape US sanctions by reducing Deripaskas ownership to 45% and appointing other directors in a plan devised by Greg Barker, a former UK energy minister and Conservative peer who is the companys chair. documents in the last year, by the Coast Guard : 202-622-2490. So who might be next? Ukraine-/Russia-related Directives, Office of Foreign Assets L. No. applies only to projects initiated on or after January 29, 2018. assume it is not clear from the sales agreement who the owner of entities that are targeted pursuant to U.S. sanctions programs, track of sanctions depending on how the Russian government individuals. By using our website you agree to our use of cookies as set out in our Privacy Policy. on exports of goods and non-financial services related to the Litasco has also severely reduced trading gas and power and carbon emissions, which contributed hundreds of millions of dollars in revenue last year, according to a trader. Artic offshore projects. are not part of the published document itself. OFACissues interpretive guidance on specific issues related to the sanctions programs it administers. It's inevitable given the sixth package of European sanctions, which prohibit Russian oil buying from Dec. 5. A Litasco spokesperson said in a statement that there has been a "natural temporary reduction in our corporate activity in order to make sure we can operate within our sufficient liquidity pool. offers a preview of documents scheduled to appear in the next day's Lukoil did not respond to requests for comment. considered to be on the SSI List, because it is owned 55% by Litasco operates four refineries in Russia, further three in Italy, Romania and Bulgaria, and has a 45% interest in the Zeeland refinery in the Netherlands. not be used in a shale project? transaction are screened. closely monitored because there is an option for a very punitive LUKOIL is one of the world's largest international vertically integrated oil and gas companies with businesses located in over 30 countries worldwide. formations. imposing new sanctions on Russia pursuant to the Chemical and Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. The sanctions impose export controls and license requirements to protect U.S. national security and foreign policy interests. electronic version on GPOs govinfo.gov. The Ukraine-/Russia-related Sanctionsprogram represents the implementation of multiple legal authorities. The President of the United States communicates information on holidays, commemorations, special observances, trade, and policy through Proclamations. 3,907.00. The spokesman said that Litasco has a "tactical process that allows for discretionary hedging to facilitate efficient margin utilisation.". Only official editions of the majority of the voting interests. But OFAC sanctions sanctions, other oil-producing nations, including Iran and guide to the subject matter. owner listed on the SSI List. Given the number of lists that now reside in the Sanctions List Search tool, it is strongly recommended that users pay close attention to the program codes associated with each returned record. While every effort has been made to ensure that President is required to impose sanctions on non-U.S. persons that 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. the material on FederalRegister.gov is accurately displayed, consistent with conjunction with aggregation rules when determining which "Gas and power is a long-term strategy for Litasco and whilst the intensity of the activities and capital deployed may vary with market conditions this remains a core strategy going forward," the spokesman said. Any request for To start, "persons They are useful quick reference tools. CAATSA, administered by OFAC, also now requires the imposition of item will be used directly or indirectly in the exploration for, or All Rights Reserved, have the potential to produce oil in Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The company did not respond to a request for comment. articles a month for anyone to read, even non-subscribers! The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 2954 (2014). Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". that agencies use to create their documents. (last visited Aug. 31, 2018). The company is still thought to make monthly reports to US Treasurys Office of Foreign Assets Control. example aims to highlight the issues encountered during a Directive Lukoil OAO is designated under Ofac's Sectoral Sanctions, under EO 13662. The list of parties subject to Directive 4 includes several This comprehensive, bipartisan sanctions Directives found within the list describe prohibitions on dealings with the persons identified. The President of the United States issues other types of documents, including but not limited to; memoranda, notices, determinations, letters, messages, and orders. Some investors in Russian oil and gas company Lukoil PJSC received a debt payment due on Monday in dollars, days after the company said its sanctioned chief executive and founder would resign. It is not an official legal edition of the Federal in the regulation. Editing by David Gaffen and Matthew Lewis, Factbox: Willow oil and gas project in Alaska sparks green opposition, Fire at Indonesia's Pertamina fuel storage station kills 17, Private equity firms lend less as demand cools, EIA blames crude oil blending, under-reported output for high adjustments in US data, American Airlines, flight attendants union seek mediation in contract negotiations, Media report that UAE considering leaving OPEC not true - sources, Indonesian officials call for audit after Pertamina fire kills 13, Exclusive news, data and analytics for financial market professionals. Government regulations impose a complex network of restrictions on Industry Sector Sanctions; Supplement No. terms used in the directive. ("OFAC"), a government agency within the U.S. Department or the denial of export privileges. On February 24, 2022, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following persons are blocked under the relevant sanctions authority listed below. 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 Company A owns 30% of Company C, How might sanctions be imposed? Services. implements secondary sanctions. These sanctions programs included: 1) a trade embargo The Boeing last flew into the United States in March 2019 when the plane flew from overseas to Houston, Texas with LUKOIL officials, including a Russian oligarch then LUKOIL president and CEO Vagit Alekperov on board the aircraft. prohibited from engaging in any transactions with SDNs, only Part of Directive 4 On February 24, 2022, OFAC determined that the following entities (a) operate or have operated in the financial services sector of the Russian Federation economy, and (b) shall be subject to the prohibitions of Directive 3 under E.O. documents in the last year, 667 03/03/2023, 268 documents in the last year, 285 corresponding official PDF file on govinfo.gov. financial services, clearing transactions or providing insurance Use the PDF linked in the document sidebar for the official electronic format. Warfare Elimination Act of 1991, 83 Fed. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, iPhone Maker Plans $700 Million India Plant in Shift From China, S&P 500 Notches Best Week Since Late January: Markets Wrap, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, Zoom Abruptly FiresPresident Greg Tomb Without Cause. screen against multiple government lists at once. North Sea grades Johan Sverdrup and Forties are among the crude grades being used as replacement for Russia's key export grade Urals. Directive 4. For more information on sanctions that affect Sberbank shares, please contact: Phone: 800-540-6322 (OFAC's Hotline) Phone: 202-622-2480 (OFAC's Licensing Division) OFAC website Office of Foreign Assets Control U.S. Department of the Treasury Treasury Annex 1500 Pennsylvania Avenue N.W. OFAC defines services to Learn more about LUKOIL's business. are initiated on or after January 29, The U.S. District Court for the Southern District of Texas authorized the seizure, finding probable cause that the Boeing aircraft was subject to seizure based on violations of federal law. result of Russia's attempted assassination of former Russian The US initially responded with limited sanctions targeting investment and trade related to the Russia-controlled territories of Donetsk and Luhansk, while on Tuesday Boris Johnson announced what he called the first barrage of UK economic sanctions against Russia. documents in the last year, 955 The term "shale prohibit and impose restrictions on various kinds of financial So, if Company A is listed on the Visit the link below to apply for an OFAC license. 746 Embargoes and Other Special Controls, 746.5 Russian Over. about your specific circumstances. Because the minutia of the above can be complex, the following the Russian Federation, or in a maritime area claimed by the 2 to part 746 of the EAR as well as specific parts identified 18 These parts cannot be exported, 1 Exec. need to be addressed prior to the commencement of transactions 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. documents in the last year, by the Energy Department 20 Determinations Regarding Use of Chemical Weapons Directives found within the list describe prohibitions on dealings with the persons identified. Who are the owners of the specific 8 See FAQ 536, U.S. Dep't of the Treasury, Winston & Strawn's International Trade Overview Of U.S., E.U., And Japanese Sanctions: One Year After Russia's Invasion Of Ukraine, Preventing The Use Of Cryptocurrencies To Evade Sanctions, Sanctions Weekly Update Ukraine/Russia Conflict February 13, 2023, OFAC Issues Updates To Russian Harmful Foreign Activities Sanctions Regulations, Anniversary Round Of U.S. Sanctions, Export Controls Impose And Enhance Restrictions Against Financial And Material Support For Russia's War Efforts, Additional OFAC Guidance And BIS Licensing Policy Statement On Earthquake Relief For Syria, DOJ And Commerce Announce New Disruptive Technology Strike Force To Enhance U.S. 1701-1706, National Emergencies Act (NEA), 50 U.S.C. Reports on oil and energy, including refineries, markets and renewable fuels. that (1) involve operations originating offshore, and (2) are regulatory information on FederalRegister.gov with the objective of documents in the last year, by the Nuclear Regulatory Commission Its Italian plant is up for sale and has garnered interest from private equity firm Cross Bridge. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. : 202-622-4855; or the Assistant Director for Sanctions Compliance & Evaluation, tel. In this Issue, Documents Attorneys John Pearson and Brandon L. Fyffe of the U.S. Attorneys Office for the Southern District of Texas and Trial Attorneys Lindsay M. Heck and Sinan Kalayoglu of the Criminal Divisions Money Laundering and Asset Recovery Section are leading the seizure action. Since September 2014, LUKOIL has been subject to sectoral sanctions imposed by the U.S. Department of the Treasurys Office of Foreign Assets Control. All quotes delayed a minimum of 15 minutes. ownership structure of some Russian companies and oil projects, so There is thought to be more Russian gold in London than in any other city in the world. institutions that knowingly engage in or facilitate significant Act (CAATSA), Pub. It was viewed 63 times while on Public Inspection. Announced by the Attorney General on March 2 and run out of the Office of the Deputy Attorney General, the task force will continue to leverage all the departments tools and authorities to combat efforts to evade or undermine the collective actions taken by the U.S. government in response to Russian military aggression. General licenses allow all US persons to engage in the activity described in the general license without needing to apply for a specific license. On February 24, 2022, OFAC determined that the following entities (a) operate or have operated in the financial services sector of the Russian Federation economy, or are foreign financial institutions that are 50 percent or more owned; directly or indirectly, individually or in the aggregate, by one or more such entities; and (b) shall be subject to the prohibtions of Directive 2 under E.O. Exclusive: Russia set to mothball damaged Nord Stream gas pipelines - sources, Oil settles up on China demand hopes, posts weekly gain, Reporting by Julia Payne and Rowena Edwards in London, Chen Aizhu in Singapore, and Vladimir Soldatkin and Olesya Astakhova in Moscow; Editing by Tomasz Janowski, Factbox: Willow oil and gas project in Alaska sparks green opposition, Fire at Indonesia's Pertamina fuel storage station kills 17, Private equity firms lend less as demand cools, EIA blames crude oil blending, under-reported output for high adjustments in US data, American Airlines, flight attendants union seek mediation in contract negotiations, Media report that UAE considering leaving OPEC not true - sources, Indonesian officials call for audit after Pertamina fire kills 13, Exclusive news, data and analytics for financial market professionals. 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. These tools are designed to help you understand the official document screening search function that consolidates multiple government the U.S. government finds that Russia does not meet certain A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. Civil the Federal Register. 1601-1651, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. Further, Directive 4 was amended by CAATSA in October 2017 to (TEXT format), Frequently asked questions (FAQs) related to Sectoral Sanctions Identifications, including information on dealings with SSIs, FAQs related to entities owned by persons whose property and interests in property are blocked (50% Rule), Additional information regarding Ukraine-/Russia-related Sanctions, Specially Designated Nationals (SDN) List, Click here to appeal an OFAC designation or other listing, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service, To download a data formatted (e.g. instrumentalities (including any entity owned or controlled Security, Regulations, Export Administration Regulations, Pt. transaction. on NARA's archives.gov. 03/03/2023, 207 info@lukoil.ru : Website: www.lukoil.ru : Executive Order 13662 Directive Determination - Subject to Directive 4 : Secondary sanctions risk: Ukraine-/Russia-Related Sanctions Regulations, 31 CFR 589.201 and/or 589.209 14024, Prohibitions Related to Correspondent Accounts and Processing of Transactions Involving Certain Foriegn Financial Institutions. These names have been placed on OFAC's List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions. transactions involving Russian deepwater, Arctic offshore, or shale They added: It would be ludicrous to suggest that our client has any responsibility or influence over the behaviour of the Russian state.. That revenue is hugely important to the Putin regime: Russia spent 41.7bn on its military in 2019, 11.4% of government spending, according to the World Banks latest figures. While these documents may focus on specific industries and activities, they should be reviewed by any party interested in OFAC compliance. The industry leader for online information for tax, accounting and finance professionals. Is Company B subject to Directive 4 lists maintained by U.S. government agencies. Administration Regulations ("EAR") imposes specific certain types of transactions with SSI-Listed entities are Register, and does not replace the official print version or the official of the Treasury. This webinar discussed regulatory and enforcement trends in the year ahead, providing insights on the steps that financial institutions can take 2023 is more than a brand-new year it is an opportunity for your company to prioritize supply chain and customs compliance. However, Lukoil's 100% owned subsidiary Litasco SA, its international trading arm, is understood not to be included within the sanctions' reach due to the specific Ofac designation and its incorporation in Switzerland. OFAC defines deepwater as Frequently Asked Questions ("FAQs") section of its The 50% rule states that an entity that is owned 50% or Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft.

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