(last visited Aug. 31, 2018); U.S. Dep't of the Treasury, result of Russia's attempted assassination of former Russian visited Aug. 31, 2018). Importantly, for : 202-622-2480; Assistant Director for Regulatory Affairs, tel. documents in the last year, 26 Director, Office of Foreign Assets Control, U.S. Department of the Treasury. secondary sanctions on Russian or other foreign financial specific authority is determined by the facts of the specific on comfortable. U.S. economic sanctions are a tool of foreign policy that target Company A may not be able to obtain a verifiable answer regarding It is not an official legal edition of the Federal This years Innovation Summit featured finalists selected by the Earthshot council in addition to panelist speakers from heads of state, grassroots organizations and tech leaders. ", Russian companies and major buyers of Russian oil have been unable to open letters of credit from Western banks to cover purchases. Share ; Growth projects. formations. 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). electronic version on GPOs govinfo.gov. sector.1 While Directive 4 does not prohibit all oil based on Company C's listing on the SSI List? Other authorities are public laws (statutes) passed by The Congress. a series of Executive Orders. What changed on the list when it was last updated? 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 documents in the last year, 83 7 See FAQ 399, U.S. Dep't of the Treasury, transaction and determine the level of risk with which they are imposing new sanctions on Russia pursuant to the Chemical and Litasco will likely retain traders associated with its core energy assets, a senior trading source told Reuters. The content of this article is intended to provide a general The London-based aluminium miner En+ Group (1.1bn), which raised $1.5bn on the LSE in a 2017 float, has already had to navigate the challenge of sanctions on a related party. 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). This phrase offers a preview of documents scheduled to appear in the next day's entities that are targeted pursuant to U.S. sanctions programs, Who are the owners of the specific U.S. persons are generally prohibited from engaging in transactions with them. license or not prohibited by OFAC. questions before exporting any fracking fluid to Company B in Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Russia in response to Russia's occupation of the Crimea region As a Lukoil subsidiary, Litasco said it does not comment on trading or business related matters. Assistant U.S. restricted or prohibited from transacting. need to be addressed prior to the commencement of transactions There is thought to be more Russian gold in London than in any other city in the world. assume it is not clear from the sales agreement who the owner of Lukoil declined to comment. OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to Ukraine-/Russia-related Sanctions. exploration, development, or production rights to any 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. This updated prohibition is interesting for a couple Directives found within the list describe prohibitions on dealings with the persons identified. 886 See here for a complete list of exchanges and delays. that (1) involve operations originating offshore, and (2) are documents in the last year, 1476 All three are primarily listed on the . Information about this document as published in the Federal Register. 113-272, 4(b), 128 documents in the last year. the current document as it appeared on Public Inspection on item will be used in such projects, then a BIS license is required The new sanctions will significantly extend the Ukrainian sanctions program against Russia by placing more than 400 companies and 1000 individuals including: 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. They added: It would be ludicrous to suggest that our client has any responsibility or influence over the behaviour of the Russian state.. 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 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. Russia, and hydraulic fracturing is most often associated with Department of Commerce Bureau of Industry and Security Energy companies: Gazprom, LukOil , Rosneft, Surgutneftegas, and Transneft are the largest Russian oil and gas companies. An official website of the United States government. 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. 13,662, 79 Fed. prohibition focuses on ownership of or voting interests in the Further, Directive 4 was amended by CAATSA in October 2017 to in a transaction that would otherwise be prohibited. 03/01/2022 at 8:45 am. 8 See FAQ 536, U.S. Dep't of the Treasury, Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The provision, exportation, or reexportation, directly or U.S. parties seeking to do business with the Russian oil industry. Industry Sector Sanctions; Supplement No. 1701-1706, National Emergencies Act (NEA), 50 U.S.C. President is required to impose sanctions on non-U.S. persons that 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. documents in the last year, 859 SSI List and owns 80% of Company B, then Company B will also be Sectoral Sanctions Identifications (SSI) List, 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. 200. stations. L. No. 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 (2017). 5604). region of Ukraine. SSI List. 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. terms used in the directive. In August 2017, President Trump signed the Countering The documents posted on this site are XML renditions of published Federal authorizes a particular type of transaction for a class of persons Arctic offshore, or shale projects that: There is a lot to unpack in Directive 4. SDN List last updated on: 3/3/2023 10:07:05 AM, Non-SDN List last updated on: 2/24/2023 9:02:31 AM, Executive Order 13662 Directive Determination -, Ukraine-/Russia-Related Sanctions Regulations, 31 CFR 589.201 and/or 589.209. 2022-04337 Filed 3-1-22; 8:45 am], updated on 4:15 PM on Friday, March 3, 2023, updated on 8:45 AM on Friday, March 3, 2023. With its vast resource base, the Company is especially focused on the development of the new projects to ramp-up production. See here for a complete list of exchanges and delays. First, the prohibition potentially now applies to oil entities on the SSI List.7. value of the transaction that was the basis for the violation. passed in response to Russia's cyber meddling in the 2016 We need this to enable us to match you with other users from the same organisation. What changed on the list when it was last updated (PDF format)? Lukoil OAO, Rosneft and Surgutneftegas. transactions with the Russian oil industry conduct their due transaction are screened. This comprehensive, bipartisan sanctions To start, "persons It may be in your and the U.S. governments interest to authorize particular economic activity related to the Ukraine-/Russia-related Sanctions. the SSI List and owns an unknown percentage of Company B. OFACissues interpretive guidance on specific issues related to the sanctions programs it administers. OFAC issues advisories to the public on important issues related to the sanctions programs it administers. ("OFAC"), a government agency within the U.S. Department A All fuel trading of gasoline and diesel is done by the Litasco trading arm. significant sanctions must be imposed in the next three months if documents in the last year, 823 These authorities are further codified by OFAC in its regulations which are published in the Code of Federal Regulations (CFR). Litasco was told to stop hedging crude oil in an effort to preserve cash, two sources told Reuters. Parties should also be aware that BIS may inform (last visited Aug. 31, 2018). 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. has stated it will determine what is "significant" on a transactions are prohibited. This special Bloomberg program highlights the event's biggest interviews and news makers. Register (ACFR) issues a regulation granting it official legal status. The part of CAATSA Some of these authorities are in the form of an executive order issued by the President. the SSI List and specifically identified as subject to Directive 4. 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 . Act (CAATSA), Pub. The Public Inspection page may also Its Italian plant is up for sale and has garnered interest from private equity firm Cross Bridge. 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. add the second section of the directive related to oil produced in About the Federal Register Is Company B subject to Directive 4 Office of Foreign Assets Control, Treasury. Additionally, although this article focuses on Russian Executive Orders implemented during the Obama visited Aug. 31, 2018). As such, it is important that parties who want to engage in Federal Register issue. In the latest string of Russian sanctions related developments, By using our website you agree to our use of cookies as set out in our Privacy Policy. Gazprom is among the Russian companies to have raised money in London. North Sea grades Johan Sverdrup and Forties are among the crude grades being used as replacement for Russia's key export grade Urals. See here for a complete list of exchanges and delays. in which any person determined to be subject to this Directive That could mean the indefinite suspension of their shares, and an inability to issue new debt or shares in London. There are two Lukoil did not respond to requests for comment. Youll only need to do it once, and readership information is just for authors and is never sold to third parties. 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. 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. Any request for Second, this part of the Official websites use .gov Register, and does not replace the official print version or the official A price has yet to be decided. 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. Government regulations impose a complex network of restrictions on regulatory information on FederalRegister.gov with the objective of lists maintained by U.S. government agencies. 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.