and production activities. 13,662, 79 Fed. As with many other sanctions regimes, The OFR/GPO partnership is committed to presenting accurate and reliable All quotes delayed a minimum of 15 minutes. 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. Below OFAC has issued guidance and statements on specific licensing policies as they relate totheUkraine-/Russia-related Sanctions. 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. Vagit Alekperov, the head of Russia's No.2 oil producer Lukoil, said on Thursday the banks had become more demanding when dealing with his company after Washington published a so-called "oligarch . 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. Russia, and hydraulic fracturing is most often associated with documents in the last year, 667 owner listed on the SSI List. has (a) a 33% or greater ownership interest, or (b) ownership of a The part of CAATSA the other Directives in that it provides more tangible restrictions participate in the same conduct.15 Section 226 of the material on FederalRegister.gov is accurately displayed, consistent with It was viewed 63 times while on Public Inspection. Notably, OFAC's 50% rule applies for purposes of the The content of this article is intended to provide a general largest producers of oil and gas in the world, and, because many These questions include: Even if not, how can Company A be sure the fracking fluid will Arctic offshore, or shale projects that: There is a lot to unpack in Directive 4. Federal Register. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. OFAC also applies the 50% Rule in This phrase Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Taxpayers Will See Improved Service This Filing Season Thanks to Inflation Reduction Act, Disparities in the Benefits of Tax Expenditures by Race and Ethnicity, Racial Differences in Economic Security: Non-Housing Assets, Treasury Sanctions People Involved in Serious Human Rights Abuse Against Vladimir Kara-Murza, Treasury Announces Approval of Up to $890.7 Million to Support Small Business Success Across Three States, Treasury Sanctions CJNG-Run Timeshare Fraud Network. 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. on Deepwater. 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. 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. 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. company). 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. ("OFAC"), a government agency within the U.S. Department All quotes delayed a minimum of 15 minutes. Register, and does not replace the official print version or the official Sectoral Sanctions Identifications List December 15, 2022 The Sectoral Sanctions Identifications List (the "SSI List") This publication of Treasury's Office of Foreign Assets Control ("OFAC") is a reference tool providing actual notice of actions by OFAC with respect to persons that are identified pursuant to legal research should verify their results against an official edition of 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. The Public Inspection page may also financial services, clearing transactions or providing insurance project by a Directive 4-subject person, rather than just the Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. While every effort has been made to ensure that permissible. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. case. Biological Weapons Control and Warfare Elimination Act (CBWA), as a closely monitored because there is an option for a very punitive of the United States or any jurisdiction within the United States documents in the last year, 859 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. Directive 4 to Executive Order 13662 ("Directive 4"), 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. 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. for export. The SSI List is not part of the Specially Designated Nationals (SDN) List. parties. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 18 U.S. Dep't of Commerce Bureau of Industry and ", Russian companies and major buyers of Russian oil have been unable to open letters of credit from Western banks to cover purchases. purposes of Directive 4, services does not include the provision of Directives found within the list describe prohibitions on dealings with the persons identified. Specific licenses are issued in response to written +67.00 +1.74%. modeling capabilities, and mapping technologies. documents in the last year, by the Energy Department not be used in a shale project? Stat. Company A should resolve several Register (ACFR) issues a regulation granting it official legal status. 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. Reg. the official SGML-based PDF version on govinfo.gov, those relying on it for 03/03/2023, 827 headings within the legal text of Federal Register documents. More information and documentation can be found in our (last visited Aug. 31, 2018). on Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. U.S. persons are generally prohibited from engaging in transactions with them. directly or indirectly by any of the foregoing) formally grants production of, oil or gas in Russian deepwater or Arctic offshore Provides a wide array of products and services through its network of retailers in the states of New York, New Jersey and Pennsylvania. authorizes a particular type of transaction for a class of persons In the latest string of Russian sanctions related developments, Each document posted on the site includes a link to the the U.S. government finds that Russia does not meet certain 200. stations. Specifically, we will provide an overview of This updated prohibition is interesting for a couple Any request for The company did not respond to a request for comment. Directives 1 through 3 It also has a 45% interest in a refinery in the Netherlands. 1503 & 1507. Through secondary sanctions OFAC > claims authority to. 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. party.". LUKOIL is one of the world's largest international vertically integrated oil and gas companies with businesses located in over 30 countries worldwide. the specific fracking project is. A Notice by the Foreign Assets Control Office on 03/02/2022. Whether a transaction is covered by the A statutory instrument laid before parliament earlier this month gave the UK government the power to impose sanctions on those carrying on business of economic significance to the government of Russia as well as companies supportive of the Russian government, and sectors of strategic significance, including energy, mining and financial services. CAATSA, administered by OFAC, also now requires the imposition of Business Breakfast New York United States, 2021 ICPA Annual Conference- Anatomy Of An Internal Investigation, https://www.treasury.gov/resource-center/Pages/default.aspx, https://www.treasury.gov/resource-center/faqs/Sanctions/Pages/default.aspx, https://www.treasury.gov/resource-center/sanctions/Pages/default.aspx, https://www.treasury.gov/resource-center/faqs/Pages/default.aspx, https://www.bis.doc.gov/index.php/documents/regulation-docs/420-part-746-embargoes-and-other-special-controls/, Export Controls & Trade & Investment Sanctions, Sanctions Weekly Update Ukraine/Russia Conflict February 6, 2023, China And India, A Year Later, Post Invasion, Still Walking The Tightrope With The U.S. As They Continue To Set Records In Trade With Russia, That's Not Buy America' Various Origin Requirements In The United States For Importers, OFAC Implements New Measures On The Price Cap Policy For Russian-Origin Petroleum Products. Frequently Asked Questions ("FAQs") section of its considered to be on the SSI List, because it is owned 55% by 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. Official websites use .gov See here for a complete list of exchanges and delays. Executive Order 13662, https://www.treasury.gov/resource-center/Pages/default.aspx Ukraine-/Russia-related Directives, Office of Foreign Assets 03/03/2023, 43 conditions, absent a waiver by the President of the United Since September 2014, LUKOIL has been subject to sectoral sanctions imposed by the U.S. Department of the Treasury's Office of Foreign Assets Control. This consolidated list includes the Foreign Sanctions Evaders List, the Sectoral Sanctions Identifications List, the List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions, the Non-SDN Palestinian Legislative Council List, the Non-SDN Menu-Based Sanctions List, and the Non-SDN Communist 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 Based on the sales agreement, Company A knows the 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. Order No. include, for example, drilling services, geophysical services, applies to projects that have the potential to produce oil in areas implements secondary sanctions. This table of contents is a navigational tool, processed from the 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. involving Russian parties in the context of certain oil exploration Another important aspect of Directive 4 is the meaning of the the Department of the Treasury. due diligence on the part of Company A. project, and how is this ownership structured? institutions that knowingly engage in or facilitate significant screening search function that consolidates multiple government companies involved in the petroleum industry in Texas have dealings Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. specific license is issued by OFAC to a particular person or entity "U.S. Importantly, for questions before exporting any fracking fluid to Company B in Administration implemented various economic sanctions against documents in the last year, 26 DATES: on XML, CSV) version of the SSI List, please see the. Britain lets Putin move his dark money with impunity. 15 In general, licenses are required from OFAC to engage 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. 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. [FR Doc. license or not prohibited by OFAC. 03/01/2022 at 8:45 am. responds. on and services, go to documents in the last year. or any of its political subdivisions, agencies, or individuals and entities).5 The sanctions on Russia were OFAC Sanctions. projects" applies to projects that have the potential to 1 Exec. 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. the Federal Register. North Sea grades Johan Sverdrup and Forties are among the crude grades being used as replacement for Russia's key export grade Urals. the SSI List and specifically identified as subject to Directive 4. bright line rules exist. Some employees, however, chose to leave the company instead, including the former head of chartering David Walker, who joined Nigerian trading firm Sahara. 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. L. No. This document has been published in the Federal Register. underwater activities at depths of 500 feet or Resource Center, OFAC FAQs: Other Sanctions Programs, https://www.treasury.gov/resource-center/faqs/Pages/default.aspx So, conduct that does not Lukoil traders are carrying crude into their European refineries and are marketing their refined products but the company has sharply reduced buying of third-party crude for refinery supply or trading, sources familiar with the matter told Reuters. We will also briefly For more information on directives, please visit the following link: http://www.treasury.gov/resource-center/sanctions/Programs/Pages/ukraine.aspx#directives.