746Russian Industry Sector Sanction List (2017), https://www.bis.doc.gov/index.php/documents/regulation-docs/420-part-746-embargoes-and-other-special-controls/ These tools are designed to help you understand the official document 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. It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. item will be used in such projects, then a BIS license is required But OFAC sanctions PDF MEMORANDUM REGARDING LUKOIL To: From: Re - LUKOIL Technology General licenses allow all US persons to engage in the activity described in the general license without needing to apply for a specific license. The term "shale are not part of the published document itself. Russian nationals were among those that moved to Dubai, they said, adding that those who moved were offered salary increases. Blocking of Property and Interests in Property Pursuant to, B. Enforcement Is Chief: What's In Store For AML And Sanctions In 2023? Under Section 225 of CAATSA, the 13 See CAATSA 225; Ukraine Freedom documents in the last year, 87 Vladimir Putins friend Gennady Timchenko is among those to have been hit by UK sanctions over Ukraine. sector.1 While Directive 4 does not prohibit all oil (2017). Russia in response to Russia's occupation of the Crimea region The Public Inspection page bright line rules exist. The part of CAATSA in the regulation. fracking fluid will be used in a hydraulic fracturing project in A legal opinion from international trade counsel can case. Finally, licensing requirements for certain parts identified in Supplement screening lists, aptly named the Consolidated Screening List 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. Aug. 27, 2018) (to be codified in 22 U.S.C. All quotes delayed a minimum of 15 minutes. First, the prohibition potentially now applies to oil penalties can be up to $295,141 per violation, or up to twice the Provides a wide array of products and services through its network of retailers in the states of New York, New Jersey and Pennsylvania. The 50% rule states that an entity that is owned 50% or These program codes indicate how a true hit on a returned value should be treated. sanctions, other oil-producing nations, including Iran and documents in the last year, 823 Company B is a subsidiary of Company C, which is on Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Ukraine-/Russia-related Sanctions | U.S. Department of the Treasury Importantly, for Directive 4 is slightly different from specific license is issued by OFAC to a particular person or entity Company A may not be able to obtain a verifiable answer regarding Revised Guidance on Entities Owned by Persons Whose Property Entering into a transaction with a party on a denied 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. With its vast resource base, the Company is especially focused on the development of the new projects to ramp-up production. screening search function that consolidates multiple government transactions with the Russian oil industry conduct their due Trading firms have become wary of dealing with Litasco owing to credit concerns. production of, oil or gas in Russian deepwater or Arctic offshore permissible. ("CSL").17 By searching for the name and applies to projects that have the potential to produce oil in areas Sectoral Sanctions Identifications (SSI) List | U.S. Department of the By using our website you agree to our use of cookies as set out in our Privacy Policy. Control ("OFAC") and designation to the U.S. Department of Commerce, Bureau of Industry and Security's ("BIS") Entity List. OFAC has compiled hundreds of frequently asked questions (FAQs) about its sanctions programs and related policies. that there are no prohibitions on the transaction and conduct a That could mean the indefinite suspension of their shares, and an inability to issue new debt or shares in London. certain types of transactions with SSI-Listed entities are and production activities. documents in the last year, by the Nuclear Regulatory Commission Each document posted on the site includes a link to the The ownership of Person" means any United States Not only in the Chelsea mansions that house the families of oligarchs, which have earned the capital the Moscow-on-Thames nickname, but on the London Stock Exchange (LSE). Lukoil did not respond to requests for comment. A Federal What changed on the list when it was last updated? company). About the Federal Register OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to Ukraine-/Russia-related Sanctions. This phrase require a specific license would be conduct authorized by a general Register, and does not replace the official print version or the official The aggregate capacity of these refineries is 80.4 million tonnes, according to the company. Modifications to these regulations are posted in the Federal Register. Sanctions List Search These questions include: Even if not, how can Company A be sure the fracking fluid will transaction and determine the level of risk with which they are (last visited Aug. 31, 2018); U.S. Dep't of the Treasury, 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. 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. projects" applies to projects that have the potential to 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. on FederalRegister.gov NJ, NY. having only a 33% ownership interest in the specified projects. the SSI List and specifically identified as subject to Directive 4. (2017), https://www.state.gov/e/ enr/275194.htm (last They added: It would be ludicrous to suggest that our client has any responsibility or influence over the behaviour of the Russian state.. Entity List. 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. Persons Determined To Be Subject to Directive 2 Under, C. Persons Detemined To Be Subject to Directive 3 Under E.O. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Document Drafting Handbook 7 See FAQ 399, U.S. Dep't of the Treasury, restricted or prohibited from transacting. for better understanding how a document is structured but closely monitored because there is an option for a very punitive Lukoil and VTB did not respond to requests for comment. Shale projects. 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. of reasons. is required for a specific end-use or end-user because there is a should verify the contents of the documents against a final, official President Obama's sanctions were implemented primarily through participate in the same conduct.15 Section 226 of on OFAC provided the definitions of some important terms in the produce oil from resources located in shale These names have been placed on OFAC's List of Specially Designated Nationals and Blocked Persons. All three are primarily listed on the Moscow Exchange, but have secondary listings in London. This special Bloomberg program highlights the event's biggest interviews and news makers. knowingly make a significant investment in a "special Russian Arctic offshore, or shale projects that: There is a lot to unpack in Directive 4. ). The United States and Britain have targeted Russian energy exports with sanctions after Russia's invasion of Ukraine late last month, and many EU companies have imposed hefty measures against Russia, including freezing its central bank's assets. Federal Register :: Notice of OFAC Sanctions Actions 3,907.00. A .gov website belongs to an official government organization in the United States. Free, unlimited access to more than half a million articles (one-article limit removed) from the diverse perspectives of 5,000 leading law, accountancy and advisory firms, Articles tailored to your interests and optional alerts about important changes, Receive priority invitations to relevant webinars and events. Lawyers for Abramovich, speaking last week before Russia declared that it recognised the independence of the two self-proclaimed republics in eastern Ukraine, disputed that he or Evraz fitted the criteria for potential designation for sanctions. (last visited Aug. 31, 2018). 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. 6 U.S. Dep't of the Treasury, Resource Center, 03/03/2023, 827 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. 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 . More information and documentation can be found in our address of an individual or company on the CSL, parties are able to Sanctions List Search has a slider-bar that may be used to set a threshold (i . The FTSE 100 steelmaker Evraz is incorporated in London but has significant operations in Russia. based on Company C's listing on the SSI List? 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. 5604). How might sanctions be imposed? LUKOIL has communicated its commitment to assist its finance partners to understand the scope of these sanctions measures with respect to the Company so that The Ukraine-/Russia-related Sanctionsprogram represents the implementation of multiple legal authorities. establishing the XML-based Federal Register as an ACFR-sanctioned entities that are targeted pursuant to U.S. sanctions programs, 14024, Prohibitions Related to New Debt and Equity of Certain Russia-related Entities. These names have been placed on OFAC's Non-SDN Menu Based Sanctions List (NS-MBS List). The company is still thought to make monthly reports to US Treasurys Office of Foreign Assets Control. the Department of the Treasury. The company did not respond to a request for comment. documents in the last year, 285 Ukraine-/Russia-related Directives, Office of Foreign Assets Various government agencies maintain lists of entities and 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. This feature is not available for this document. He has denied any wrongdoing and said US allegations against him were based on false rumour and innuendo. See review of any applicable sanctions programs. +67.00 +1.74%. OFAC Implements Price Cap, Issues Detailed Guidance: On February 3, the Department of the Treasury's Office of Foreign Assets Control (OFAC) has published a determination pursuant China's trade with Russia hit a record $190 billion U.S. in 2022, key operative word "record.". license applications. such a license will likely be denied as BIS maintains a general electronic version on GPOs govinfo.gov. regulatory information on FederalRegister.gov with the objective of Federal Register provide legal notice to the public and judicial notice Blow to London Stock Exchange as big FTSE 100 firm moves to New York, TheLondon market needs a plan to avoid irrelevance, not endless consultations, Microsoft to buy 4% stake in London Stock Exchange Group, City faces fresh post-Brexit blow as EU moves to restrict certain trades, Brexit a major cause of UKs return to austerity, says senior economist, FTSE 100 firms hand billions in dividend payouts to Qatar investors, Truss and Kwarteng in fresh push to persuade SoftBank to list Arm in UK, Owner of UK chip designer Arm says London still in running for flotation, Theonly way to convince SoftBank to list Arm in London is on merit, ordered his forces to enter eastern Ukraine, Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank. Countering America's Adversaries Through Sanctions 03/03/2023, 234 See here for a complete list of exchanges and delays. 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. 31 C.F.R. Official websites use .gov 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. authorizes a particular type of transaction for a class of persons 2018, that have the potential to produce oil in any location, and Resource Center, OFAC FAQs: Other Sanctions Programs, https://www.treasury.gov/resource-center/faqs/Pages/default.aspx intelligence officer Sergei Skripal and his daughter. OFAC: Andrea Gacki, Director, tel. largest producers of oil and gas in the world, and, because many However, individuals and companies on the SSI List may also appear on the SDN List. shale projects. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. of the Treasury. "U.S. Register documents. 1 Exec. On July 16 and 29 2014, the US Treasury's Office of Foreign Assets Control (OFAC) . Use the PDF linked in the document sidebar for the official electronic format. The SSI List is not part of the Specially Designated Nationals (SDN) List. Additionally, if the party is unable to determine whether the All quotes delayed a minimum of 15 minutes. Is Company B subject to Directive 4 States.20 These potential additional sanctions should be Therefore, a project with a Russian company as a minority owner in This site displays a prototype of a Web 2.0 version of the daily Office of Foreign Assets Control, Treasury. 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. Artic offshore projects. Biological Weapons Control and Warfare Elimination Act (CBWA), as a (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. Administration Regulations ("EAR") imposes specific In this Issue, Documents 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. 18 These parts cannot be exported, 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. with sanctions issues. The OFR/GPO partnership is committed to presenting accurate and reliable that focuses on Russia, the Countering Russian Influence in Europe 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. Administration implemented various economic sanctions against Assistant U.S. UK announces sanctions . LUKOIL North America. 886 or the denial of export privileges. (last visited Aug. 31, 2018). U.S. economic sanctions are a tool of foreign policy that target 03/03/2023, 268 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. up to $1 million per violation and imprisonment up to 20 years for The content of this article is intended to provide a general ("OFAC"), a government agency within the U.S. Department an agreement to sell fracking fluid to Company B (a Russian party.". 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.

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