03/03/2023, 207 4024, https://www.federalregister.gov/d/2022-04337, MODS: Government Publishing Office metadata. require a specific license would be conduct authorized by a general
The SSI List is not part of the Specially Designated Nationals (SDN) List. 3,907.00. Office of Foreign Assets Control, Treasury. 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. documents in the last year, 20 documents in the last year, by the Coast Guard The content of this article is intended to provide a general
of Ukraine. (last visited Aug. 31, 2018). Support Act of 2014, Pub. 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. LUKOIL North America. offers a preview of documents scheduled to appear in the next day's 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. A Notice by the Foreign Assets Control Office on 03/02/2022. transactions are prohibited. Litasco said it has not changed its policy for supplying refineries. Resource Center, OFAC FAQs: General Questions, https://www.treasury.gov/resource-center/faqs/Sanctions/Pages/default.aspx
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. restricted or prohibited from transacting. Below OFAC has issued guidance and statements on specific licensing policies as they relate totheUkraine-/Russia-related Sanctions. Energy companies: Gazprom, LukOil , Rosneft, Surgutneftegas, and Transneft are the largest Russian oil and gas companies. documents in the last year, by the Nuclear Regulatory Commission such a license will likely be denied as BIS maintains a general
documents in the last year, 859 Section 746.5 of the Export
3 President Obama's Act (CAATSA), Pub. shale projects. 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. 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. 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. violations are viewed under a strict liability standard, so if OFAC
project, and how is this ownership structured? 115-44, 131 Stat. the current document as it appeared on Public Inspection on 03/03/2023, 268 to the courts under 44 U.S.C. permissible. 2954 (2014). by the Foreign Assets Control Office That could mean the indefinite suspension of their shares, and an inability to issue new debt or shares in London. It was viewed 63 times while on Public Inspection. located above the Arctic Circle. This table of contents is a navigational tool, processed from the Entity List. Official websites use .gov section for applicable date(s).
The SSI List is not part of the Specially Designated Nationals (SDN) List. portion of the Directive 4 prohibition applies to listed persons
Since September 2014, LUKOIL has been subject to sectoral sanctions imposed by the U.S. Department of the Treasurys Office of Foreign Assets Control. Specially Designated Nationals and Blocked Persons list ("SDN List") and all other sanctions lists administered by OFAC, including the Foreign Sanctions Evaders List, the Non-SDN Iran Sanctions Act List, the Sectoral Sanctions Identifications List, the List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions and the Non-SDN Palestinian Legislative Council List. trafficking, human rights, and cybersecurity. About the Federal Register up to $1 million per violation and imprisonment up to 20 years for
"They are slowly moving to Dubai. The 50% rule states that an entity that is owned 50% or
these parties and the interests held in oil projects must also be
enforced by the Office of Foreign Assets Control
3 Briefly, the SDN List identifies individuals and
Use the PDF linked in the document sidebar for the official electronic format. Various government agencies maintain lists of entities and
determines the fracking fluid has been used in activities
Control, Directive 4 (as Amended on October 31, 2017) Under
Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 17 The CSL is found at https://www.export.gov/csl-search.18. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. screening search function that consolidates multiple government
The aggregate capacity of these refineries is 80.4 million tonnes, according to the company. Should You File A Prior Disclosure In 2023? It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. 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 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.". reexported, or transferred without a license if the party knows the
The Public Inspection page may also without the need to apply for a license. 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. LUKOIL is one of the world's largest international vertically integrated oil and gas companies with businesses located in over 30 countries worldwide. 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. individuals and entities).5 The sanctions on Russia were
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). What changed on the list when it was last updated (PDF format)? Based on the sales agreement, Company A knows the
Person" means any United States
Will Others Follow? involvement of a Directive 4-subject person. a country other than Russia could be subject to the prohibitions of
13 April 2022. Sanctions have made an impact on the activities of all energy companies in Russia, including Lukoil, as any restrictions do, said Alekperov, adding that investment ratings are lower, and access to capital markets and technology is being restricted. 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. 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. All fuel trading of gasoline and diesel is done by the Litasco trading arm. the State Department announced on August 8, 2018 that it would be
participate in the same conduct.15 Section 226 of
The companies are not only crucial to the Russian economy, they also directly fund a large part of the Russian state. Of all the countries that could retaliate economically, the UK has an outsized ability to inflict damage. documents in the last year, 987 Therefore, a project with a Russian company as a minority owner in
has stated it will determine what is "significant" on a
Industry Sector Sanctions; Supplement No. on NARA's archives.gov. Aug. 27, 2018) (to be codified in 22 U.S.C. Additionally, if the party is unable to determine whether the
company). 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. an agreement to sell fracking fluid to Company B (a Russian
production of, oil or gas in Russian deepwater or Arctic offshore
North Sea grades Johan Sverdrup and Forties are among the crude grades being used as replacement for Russia's key export grade Urals. Gazprom, Norsnickel and Sberbank did not comment. 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. Directive 4 is slightly different from
majority of the voting interests. documents in the last year, 955 on FederalRegister.gov Because the Directive 4 prohibitions hinge on the involvement of
Under Section 225 of CAATSA, the
(2017). 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. Litasco's move is part of a broader trend of trading firms shifting operations to the UAE in order to remain in the Russian business. largest producers of oil and gas in the world, and, because many
The penalties for violations of Directive 4 can be steep. Through secondary sanctions OFAC > claims authority to. documents in the last year, 517 The United States and other European nations did not ban business with Lukoil, but energy companies, shippers and trading houses self-imposed restrictions on trading with Russian companies out of fear that future sanctions could be enacted without warning. technology in support of exploration or production for deepwater,
Reg. Company A owns 30% of Company C,
Second, this part of the
The seizure action is being coordinated through the Justice Department's Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions . party.". 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. NJ, NY. citizen, permanent resident alien, entity organized under the laws