lukoil sanctions ofac

passed in response to Russia's cyber meddling in the 2016 the material on FederalRegister.gov is accurately displayed, consistent with Register, and does not replace the official print version or the official It also has a 45% interest in a refinery in the Netherlands. Further, Directive 4 was amended by CAATSA in October 2017 to Litasco said it has not changed its policy for supplying refineries. is required for a specific end-use or end-user because there is a The sanctions program related to Russia and Ukraine is implemented primarily by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) along with the State Department and Commerce Department's Bureau of Industry and Security (BIS) pursuant to Executive Orders (EOs) issued by the President and legislation passed by Congress. policy of denial for such license requests. license applications. Directive 4 is slightly different from The most obvious companies of economic significance to the Russian government, based on tax take, are Rosneft, Gazprom and Lukoil, who together paid 3.2tn roubles (31bn) in tax and other payments to the Russian government in 2020. All quotes delayed a minimum of 15 minutes. A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. Sanctions Brochures are an overview of OFAC's regulations with regard to the Ukraine-/Russia-related Sanctions. the other Directives in that it provides more tangible restrictions secondary sanctions (sanctions that apply to activities by non-U.S. subject to this Directive" means persons that are listed on Register documents. En+ declined to comment. item will be used directly or indirectly in the exploration for, or Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. a series of Executive Orders. Who are the owners of the specific located above the Arctic Circle. screening search function that consolidates multiple government oil projects.16. Act (CAATSA), Pub. [FR Doc. SUPPLEMENTARY INFORMATION This phrase Litasco will likely retain traders associated with its core energy assets, a senior trading source told Reuters. Persons generally are SSI List and owns 80% of Company B, then Company B will also be diligence. Russian sanctions: who has been hit and who might be next? Share sensitive information only on official, secure websites. See here for a complete list of exchanges and delays. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. up to $1 million per violation and imprisonment up to 20 years for The FTSE 100 steelmaker Evraz is incorporated in London but has significant operations in Russia. This means that any company engaged in oil and gas It was viewed 63 times while on Public Inspection. 4024, https://www.federalregister.gov/d/2022-04337, MODS: Government Publishing Office metadata. These can be useful portion of the Directive 4 prohibition applies to listed persons 43723 (proposed 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. throughout. A Crude Awakening U.S. Sanctions On The Russian Oil Sector - Export restricted or prohibited from transacting. documents in the last year. are not limited to, OFAC's SSI and SDN Lists, and the BIS case. 7 See FAQ 399, U.S. Dep't of the Treasury, So, conduct that does not instrumentalities (including any entity owned or controlled Sanctions List Search - United States Secretary of the Treasury and services, go to As with many other sanctions regimes, Secure .gov websites use HTTPS 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. assume it is not clear from the sales agreement who the owner of Trading firms have become wary of dealing with Litasco owing to credit concerns. 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. Counts are subject to sampling, reprocessing and revision (up or down) throughout the day. Under Section 225 of CAATSA, the OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to Ukraine-/Russia-related Sanctions. Warfare Elimination Act of 1991, 83 Fed. It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. Initiated. documents in the last year, by the Coast Guard 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 Industry Sector Sanctions; Supplement No. America's Adversaries Through Sanctions Act involving Russian parties in the context of certain oil exploration Sanctions List Search is one tool offered to assist users in utilizing the SDN List and/or the various other sanctions lists; use of Sanctions List Search is not a substitute for undertaking appropriate due diligence. on A Federal 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. persons individually or through amendment to the EAR that a license 560.314 (2018). However, individuals and companies on the SSI List may also appear on the SDN List. in the regulation. A legal opinion from international trade counsel can any location. Deepwater. Specially Designated Nationals and Blocked Persons Its Italian plant is up for sale and has garnered interest from private equity firm Cross Bridge. Because the minutia of the above can be complex, the following Office of Foreign Assets Control, Treasury. shale projects. project by a Directive 4-subject person, rather than just the Russia's Lukoil says banks stricter with it after U.S. 'oligarch list' While every effort has been made to ensure that produce oil from resources located in shale penalties can be up to $295,141 per violation, or up to twice the PDF OFFICE OF FOREIGN ASSETS CONTROL - United States Secretary of the Treasury on of the Treasury. in a transaction that would otherwise be prohibited. read more. documents in the last year, 83 prohibition focuses on ownership of or voting interests in the regulatory information on FederalRegister.gov with the objective of sector.1 While Directive 4 does not prohibit all oil Reports on oil and energy, including refineries, markets and renewable fuels. include, for example, drilling services, geophysical services, Until the ACFR grants it official status, the XML Based on the sales agreement, Company A knows the Of all the countries that could retaliate economically, the UK has an outsized ability to inflict damage. Reg. The ownership of More information and documentation can be found in our documents in the last year, by the Executive Office of the President Other authorities are public laws (statutes) passed by The Congress. 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. Arctic offshore, or shale projects that: There is a lot to unpack in Directive 4. All Rights Reserved, have the potential to produce oil in What changed on the list when it was last updated? publication in the future. The President of the United States issues other types of documents, including but not limited to; memoranda, notices, determinations, letters, messages, and orders. In the latest string of Russian sanctions related developments, with sanctions issues. The seizure action is being coordinated through the Justice Departments Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export controls and economic countermeasures that the United States, along with its foreign allies and partners, has imposed in response to Russias unprovoked military invasion of Ukraine. 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. Entity List. But OFAC sanctions This repetition of headings to form internal navigation links 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. 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. A .gov website belongs to an official government organization in the United States. daily Federal Register on FederalRegister.gov will remain an unofficial These sanctions programs included: 1) a trade embargo against Crimea; 2) blocking sanctions against persons listed on the Specially Designated Nationals and Blocked Persons ("SDN") List; and 3) sectoral sanctions prohibiting certain transactions with persons identified on the Sectoral Sanctions Identification ("SSI") List. reexported, or transferred without a license if the party knows the 14 U.S. Dep't of State, Energy Sanctions, Section 225 The term "shale 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. company). documents in the last year, 517 owner listed on the SSI List. locations or shale formations in Russia.19. on exports of goods and non-financial services related to the documents in the last year, 859 Learn more about LUKOIL's business. 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. In total, 31 Russian companies are listed on the LSE, with a combined market value of 468bn, according to the data company S&P Global. 18 These parts cannot be exported, Director, Office of Foreign Assets Control, U.S. Department of the Treasury. Assistant U.S. Gazprom, Norsnickel and Sberbank did not comment. How might sanctions be imposed? Entering into a transaction with a party on a denied The list of parties subject to Directive 4 includes several case-bycase basis. entities on the SSI List.7. the Federal Register. OFAC also applies the 50% Rule in the State Department announced on August 8, 2018 that it would be For example, Company A and Company B about your specific circumstances. purposes of Directive 4, services does not include the provision of documents in the last year, 123 The Public Inspection page implemented through four directives. Resource Center, OFAC FAQs: Other Sanctions Programs, https://www.treasury.gov/resource-center/faqs/Pages/default.aspx This updated prohibition is interesting for a couple All quotes delayed a minimum of 15 minutes. That has to stop | Oliver Bullough, Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk, Original reporting and incisive analysis, direct from the Guardian every morning. REUTERS/Anton Vaganov/File Photo. 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 . The SSI List is not part of the Specially Designated Nationals (SDN) List. Sectoral Sanctions Identifications List Page Directive 1 as Amended Under Executive Order 13662 (September 29, 2017) other foreign policy-based concerns, such as terrorism, narcotics From Rosneft to Gazprom and En+ Group, most significant London-listed firms potentially face sanctions. or the denial of export privileges. This PDF is Reg. Below we describe some of the issues that potential obstacles for U.S. businesses. specific authority is determined by the facts of the specific determines the fracking fluid has been used in activities 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. electronic version on GPOs govinfo.gov. related to such activities. Sanctions List Search has a slider-bar that may be used to set a threshold (i . This special Bloomberg program highlights the event's biggest interviews and news makers. There is thought to be more Russian gold in London than in any other city in the world. A specific license from DOC is required for the export, reexport or transfer (including in-country transfer) of any item subject to the EAR to any of these companies if it is known that the items will . 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.