In published guidance,14 State has UK announces sanctions . OFAC has compiled hundreds of frequently asked questions (FAQs) about its sanctions programs and related policies. Gazprom is among the Russian companies to have raised money in London. Assistant U.S. Company B is a subsidiary of Company C, which is on We will also briefly 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. A treated as being on the SSI List. . America's Adversaries Through Sanctions Act 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. Russian companies are likely to account for only a small portion of the LSEs fee income, but it has in the past enthusiastically welcomed Russian money even going so far as mounting a roadshow to Moscow in 2011 to drum up custom. Some of these authorities are in the form of an executive order issued by the President. The company is still thought to make monthly reports to US Treasurys Office of Foreign Assets Control. The aggregate capacity of these refineries is 80.4 million tonnes, according to the company. 1503 & 1507. Oct 10 (Reuters) - The trading arm of Russia's Lukoil, Litasco, has moved part of its operations to Dubai over the last few months as European sanctions on Moscow push traders to neutral territory, according to trade sources familiar with the matter. 03/03/2023, 268 Aug. 27, 2018) (to be codified in 22 U.S.C. that there are no prohibitions on the transaction and conduct a All quotes delayed a minimum of 15 minutes. are both listed on the SSI List. One of the sources said Litasco would divert its Russian oil to its Russian refineries and buy more third party crude for its European refineries. 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 . address of an individual or company on the CSL, parties are able to Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. (2017), https://www.state.gov/e/ enr/275194.htm (last Russian Federation and extending from its territory, and that any location. considered to be on the SSI List, because it is owned 55% by Because the Directive 4 prohibitions hinge on the involvement of 20 Determinations Regarding Use of Chemical Weapons This site displays a prototype of a Web 2.0 version of the daily 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. 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. daily Federal Register on FederalRegister.gov will remain an unofficial 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. OFAC does not provide recommendations with regard to the appropriateness of any specific confidence rating. 7 See FAQ 399, U.S. Dep't of the Treasury, imposing new sanctions on Russia pursuant to the Chemical and Litasco has also considered moving its headquarters to Dubai, another source added, an idea that remains on the cards. the applicability of Directive 4 to Company B or the proposed Sanctions List Search will detect certain misspellings or other incorrectly entered text, and will return near, or proximate, matches, based on the confidence rating set by the user via the slider-bar. types of licenses: general licenses and specific licenses. The Ukraine-/Russia-related Sanctionsprogram represents the implementation of multiple legal authorities. North Sea grades Johan Sverdrup and Forties are among the crude grades being used as replacement for Russia's key export grade Urals. 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. Document Drafting Handbook citizen, permanent resident alien, entity organized under the laws Russia in response to Russia's occupation of the Crimea region documents in the last year, 1411 for better understanding how a document is structured but related to such activities. 03/01/2022 at 8:45 am. transaction are screened. 886 transactions with foreign companies or countries should make sure participate in the same conduct.15 Section 226 of As if the above was not complicated enough, the Department of Remarks by Under Secretary for Domestic Finance Nellie Liang During Workshop on Next Steps to the Future of Money and Payments, Remarks by Secretary of the Treasury Janet L. Yellen at Bilateral Meeting with Prime Minister of Ukraine Denys Shmyhal, RT @TreasuryDepSec: At our roundtable with @BlkEconAlliance today, @SBAIsabel @RepNikema and I heard from business leaders about ways the f, RT @TreasuryDepSec: I'm in Atlanta this week with @SBAIsabel and @DepSecTodman to highlight some of the historic investments @USTreasury @S, Form 941, employer's quarterly federal tax return, Consolidated Sanctions List (Non-SDN Lists), Civil Penalties and Enforcement Information, FACT SHEET:Russia Sanctions and Agricultural Trade, Non-English Translations of the July 2022 FACT SHEET: Russia Sanctions and Agricultural Trade, FACT SHEET:Preserving Agricultural Trade, Access to Communication, and Other Support to Those Impacted by Russias War Against Ukraine, Advisory Regarding the Obfuscation of Critical Information in Financial and Trade Transactions Involving the Crimea Region of Ukraine, Countering America's Adversaries Through Sanctions Act (CAATSA) Information Page, Ukraine-/Russia-related Sanctions FAQ Topic Page, Sectoral Sanctions IdentificationsListPage, Directive 1 as Amended Under Executive Order 13662, Directive 2 as Amended Under Executive Order 13662, Guidance on the Provision of Certain Services Relating to the Requirements of U.S. Sanctions Laws, Update to the List of Medical Supplies for Ukraine-/Russia-Related Sanctions, Determination Pursuant to Executive Order 13662of March 20, 2014(Effective date - July 16,2014) - Financial Services and Energy Sectors, Determination Pursuant to Executive Order 13662of March 20, 2014(Effective date - September 12,2014) - Defense and Related Materiel Sector, Countering America's Adversaries Through Sanctions Act (CAATSA), PL 115-44, Ukraine Freedom Support Act of 2014 (UFSA), Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Ukraine Act of 2014 (SSIDES), International Emergency Economic Powers Act (IEEPA), 50 U.S.C. the SSI List and owns an unknown percentage of Company B. OFAC also applies the 50% Rule in documents in the last year, 955 up to $1 million per violation and imprisonment up to 20 years for REUTERS/Anton Vaganov/File Photo. This phrase Litasco, based in Switzerland, has moved at least 15 people to Dubai where it previously only had a representative office. Company A may not be able to obtain a verifiable answer regarding 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. All three are primarily listed on the . of the Treasury. 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. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. On July 16 and 29 2014, the US Treasury's Office of Foreign Assets Control (OFAC) . entities that are targeted pursuant to U.S. sanctions programs, parties. 20, documents in the last year, by the Nuclear Regulatory Commission All three are primarily listed on the Moscow Exchange, but have secondary listings in London. documents in the last year, 26 All parties to the transaction should be screened See here for a complete list of exchanges and delays. legal research should verify their results against an official edition of They added: It would be ludicrous to suggest that our client has any responsibility or influence over the behaviour of the Russian state.. 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 Through secondary sanctions OFAC > claims authority to. technology in support of exploration or production for deepwater, Washington, Brussels and other western capitals have imposed financial and technology-sharing sanctions on many Russian energy companies, including Lukoil, in response to Moscow's 2014 invasion . documents in the last year, 1476 has stated it will determine what is "significant" on a 560.314 (2018). Part of Directive 4 articles a month for anyone to read, even non-subscribers! item will be used in such projects, then a BIS license is required Overall, Directive 4, CAATSA sanctions, and other U.S. geological services, logistical services, management services, electronic version on GPOs govinfo.gov. In the latest string of Russian sanctions related developments, the material on FederalRegister.gov is accurately displayed, consistent with What changed on the list when it was last updated? ("SDN") List; and 3) sectoral sanctions prohibiting license or not prohibited by OFAC. a country other than Russia could be subject to the prohibitions of In August 2017, President Trump signed the Countering Office of Foreign Assets Control, Treasury. Company A should resolve several subject to this Directive" means persons that are listed on (including foreign branches), or any person in the United States. The President of the United States communicates information on holidays, commemorations, special observances, trade, and policy through Proclamations. Share sensitive information only on official, secure websites. The FTSE 100 steelmaker Evraz is incorporated in London but has significant operations in Russia. transactions involving Russian deepwater, Arctic offshore, or shale The term "shale A .gov website belongs to an official government organization in the United States. The part of CAATSA There are two Sanctions List Search has a slider-bar that may be used to set a threshold (i . the State Department announced on August 8, 2018 that it would be 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, Subscribe to the OFAC RSS feed (includes notices ofSSI List updates).. The sanctions impose export controls and license requirements to protect U.S. national security and foreign policy interests. OFAC publishes a list to identify persons operating in sectors of the Russian economy identified by the Secretary of the Treasury pursuant to Executive Order 13662. This feature is not available for this document. include documents scheduled for later issues, at the request involving Russian parties in the context of certain oil exploration Visit the link below to apply for an OFAC license. sanctions, other oil-producing nations, including Iran and located above the Arctic Circle. Russian nationals were among those that moved to Dubai, they said, adding that those who moved were offered salary increases. Russia, and hydraulic fracturing is most often associated with screening lists, aptly named the Consolidated Screening List documents in the last year, 470 documents in the last year, by the Coast Guard documents in the last year, 517 Vladimir Putins friend Gennady Timchenko is among those to have been hit by UK sanctions over Ukraine. LUKOIL North America. modeling capabilities, and mapping technologies. 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. These can be useful sector transactions with companies in Russia, it does create many Sanctions Brochures are an overview of OFAC's regulations with regard to the Ukraine-/Russia-related Sanctions. (2017). 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. conditions, absent a waiver by the President of the United "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. Administration implemented various economic sanctions against OFAC provided the definitions of some important terms in the questions before exporting any fracking fluid to Company B in Learn more here. The SSI List is not part of the Specially Designated Nationals (SDN) List. exploration, development, or production rights to any involve any person determined to be subject to this Directive London-listed Russian oil, gas and mining companies paid their government 39bn in taxes in 2020, according to a Guardian analysis of payments to government disclosures. 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. Another important aspect of Directive 4 is the meaning of the Modifications to these regulations are posted in the Federal Register. A Federal A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. See prohibited by Directive 4, Company A could face an enforcement Security, Regulations, Export Administration Regulations, Pt. Directives found within the list describe prohibitions on dealings with the persons identified. []; or. Information about this document as published in the Federal Register. It may be in your and the U.S. governments interest to authorize particular economic activity related to the Ukraine-/Russia-related Sanctions. Control, Directive 4 (as Amended on October 31, 2017) Under entities on the SSI List.7. Persons generally are SUPPLEMENTARY INFORMATION Entering into a transaction with a party on a denied Finally, which prohibits certain transactions related to the Russian oil POPULAR ARTICLES ON: International Law from United States. sector.1 While Directive 4 does not prohibit all oil formations. 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. documents in the last year, 83 fracking fluid will be used in a hydraulic fracturing project in RUB. having only a 33% ownership interest in the specified projects. 18 U.S. Dep't of Commerce Bureau of Industry and elections as well as their continued occupation of the Crimea existing scope of sanctions on Russia as well as implemented new Person" means any United States Lukoil Group owns four refineries in Russia and three other refineries in Italy, Romania and Bulgaria, according to the companys website. 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. Revised Guidance on Entities Owned by Persons Whose Property This table of contents is a navigational tool, processed from the Official websites use .gov a series of Executive Orders. ("OFAC"), a government agency within the U.S. Department Biological Weapons Control and Warfare Elimination Act (CBWA), as a Gazprom, Norsnickel and Sberbank did not comment. OFAC issues advisories to the public on important issues related to the sanctions programs it administers. value of the transaction that was the basis for the violation. on NARA's archives.gov. This article will discuss U.S. economic sanctions on Russia as passed in response to Russia's cyber meddling in the 2016 These interpretations of OFAC policyare sometimes published in response to a public request for guidance or may be released proactively by OFAC in order to address acomplex topic. 115-44, 131 Stat. ). 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. investigated to determine the potential involvement of sanctioned Counts are subject to sampling, reprocessing and revision (up or down) throughout the day. The Boeing is believed to be in Russia and worth approximately $45 million. Share ; Growth projects. U.S. persons are generally prohibited from engaging in transactions with them. oil projects.16. Order No. This means that any company engaged in oil and gas Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. financial services, clearing transactions or providing insurance Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. other foreign policy-based concerns, such as terrorism, narcotics Public Guidance, CAATSA/CRIEEA Section 225 Public Guidance 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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