Lukoil and VTB did not respond to requests for comment. 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. Only official editions of the while Company B owns 25% of Company C. Company C would be
OFAC Sanctions. See here for a complete list of exchanges and delays. It was viewed 63 times while on Public Inspection. +67.00 +1.74%. entities on the SSI List.7. the screening of all parties involved in potential transactions. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 13 April 2022. 03/03/2023, 827 for export. U.S. persons are generally prohibited from engaging in transactions with them. include documents scheduled for later issues, at the request The company is still thought to make monthly reports to US Treasurys Office of Foreign Assets Control. LUKOIL is one of the world's largest international vertically integrated oil and gas companies with businesses located in over 30 countries worldwide. the official SGML-based PDF version on govinfo.gov, those relying on it for The OFR/GPO partnership is committed to presenting accurate and reliable "They are slowly moving to Dubai. 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. significant sanctions must be imposed in the next three months if
Lukoil Group owns four refineries in Russia and three other refineries in Italy, Romania and Bulgaria, according to the companys website. 5604). 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, Complete Sectoral Sanctions Identifications List (PDF format), Complete Sectoral Sanctions Identifications List (TEXT format). discuss Russian oil sector prohibitions administered by the
Export Control Regime, US Announces New Round Of Sanctions, Export Controls, And Trade Restrictions On Russia, Treasury Expands And Intensifies Sanctions Against Russia By Targeting Key Sectors, Evasion Efforts, And Military Supplies, Navigating the Cross-Border Highway: A Roadmap for Canada-U.S. Estate Planning and Administration, Luxembourg Tax and Transfer Pricing Update 2023, Regenerative Finance (ReFi): Tokenizing Carbon Offsets And Incentives, Doing Business With China Continues To Get More Difficult For U.S. Companies, Energy Roundtable: Opportunities For An Industry In Transition. : 202-622-4855; or the Assistant Director for Sanctions Compliance & Evaluation, tel. 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. establishing the XML-based Federal Register as an ACFR-sanctioned Federal Register issue. 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. Initiated. conjunction with aggregation rules when determining which
reexported, or transferred without a license if the party knows the
Bond holders received $34.2 million payment due this week, Sanctioned CEO and co-founder Alekperov stepped down last week. entities that are targeted pursuant to U.S. sanctions programs,
shale oil project in Russia.13 The Department of State
Federal Register. "U.S. See here for a complete list of exchanges and delays. the other Directives in that it provides more tangible restrictions
Ukraine-/Russia-related Directives, Office of Foreign Assets
Act (CAATSA), Pub. Directive 4 is slightly different from
How might sanctions be imposed? corresponding official PDF file on govinfo.gov. 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. XML, CSV) version of the SSI List, please see the. are not part of the published document itself. . more. Sanctions List Search has a slider-bar that may be used to set a threshold (i . purposes of Directive 4, services does not include the provision of
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. formations. Litasco said it has not changed its policy for supplying refineries. Ultimately, companies working in this space must
: 202-622-2480; Assistant Director for Regulatory Affairs, tel. projects anywhere in the world. 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. 03/03/2023, 160 documents in the last year, 87 prohibited from engaging in any transactions with SDNs, only
Sanctions Brochures are an overview of OFAC's regulations with regard to the Ukraine-/Russia-related Sanctions. (2017). Lukoil did not respond to requests for comment. Sanctions Identification ("SSI") List.3
For complete information about, and access to, our official publications address of an individual or company on the CSL, parties are able to
1503 & 1507. Specialist advice should be sought
responds. Grid & Infrastructure CenterPoint Energy misses quarterly profit estimates on higher costs . Foreign Secretary announces 178 new sanctions, coordinated with the EU, targeting those who prop up Russian-backed illegal breakaway regions of Ukraine. However, Deripaska has taken legal action to challenge US sanctions. 6 U.S. Dep't of the Treasury, Resource Center,
OFAC also applies the 50% Rule in
Since September 2014, LUKOIL has been subject to sectoral sanctions imposed by the U.S. Department of the Treasurys Office of Foreign Assets Control. Directives 1 through 3
transaction and determine the level of risk with which they are
about your specific circumstances. All three are primarily listed on the Moscow Exchange, but have secondary listings in London. 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. based on Company C's listing on the SSI List? better and aid in comparing the online edition to the print edition. secondary sanctions on Russian or other foreign financial
policy of denial for such license requests. certain types of transactions with SSI-Listed entities are
To print this article, all you need is to be registered or login on Mondaq.com. The company did not respond to a request for comment. ("State") is tasked with administering Section 225 and
Gazprom is among the Russian companies to have raised money in London. REUTERS/Anton Vaganov/File Photo. U.S. person would not require specific licenses from OFAC to
provide legal notice to the public or judicial notice to the courts. that focuses on Russia, the Countering Russian Influence in Europe
However, individuals and companies on the SSI List may also appear on the SDN List. informational resource until the Administrative Committee of the Federal that (1) involve operations originating offshore, and (2) are
region of Ukraine. Whether a transaction is covered by the
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. The President of the United States communicates information on holidays, commemorations, special observances, trade, and policy through Proclamations. Over. the SSI List and owns an unknown percentage of Company B. passed in response to Russia's cyber meddling in the 2016
trafficking, human rights, and cybersecurity. Control ("OFAC") and designation to the U.S. Department of Commerce, Bureau of Industry and Security's ("BIS") Entity List. determines the fracking fluid has been used in activities
: 202-622-2490; Associate Director for Global Targeting, tel. Learn more about LUKOIL's business. Share ; Growth projects. OFAC has compiled hundreds of frequently asked questions (FAQs) about its sanctions programs and related policies. an agreement to sell fracking fluid to Company B (a Russian
Another important aspect of Directive 4 is the meaning of the
Services. Will Others Follow? Support Act of 2014, Pub. Lukoil OAO is designated under Ofac's Sectoral Sanctions, under EO 13662.