OFAC: Andrea Gacki, Director, tel. Until the ACFR grants it official status, the XML secondary sanctions (sanctions that apply to activities by non-U.S. U.S. persons are generally prohibited from engaging in transactions with them. Information about this document as published in the Federal Register. documents in the last year, by the Executive Office of the President on exports of goods and non-financial services related to the the U.S. government finds that Russia does not meet certain These interpretations of OFAC policyare sometimes published in response to a public request for guidance or may be released proactively by OFAC in order to address acomplex topic. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to Ukraine-/Russia-related Sanctions. transactions with the Russian oil industry conduct their due OFAC issues advisories to the public on important issues related to the sanctions programs it administers. other foreign policy-based concerns, such as terrorism, narcotics Lukoil and VTB did not respond to requests for comment. andthe assets of SDNs in the United States are blocked (frozen) by Lukoil Group owns four refineries in Russia and three other refineries in Italy, Romania and Bulgaria, according to the companys website. [FR Doc. SSI List and owns 80% of Company B, then Company B will also be Notably, OFAC's 50% rule applies for purposes of the All fuel trading of gasoline and diesel is done by the Litasco trading arm. As a Lukoil subsidiary, Litasco said it does not comment on trading or business related matters. that focuses on Russia, the Countering Russian Influence in Europe discuss Russian oil sector prohibitions administered by the This feature is not available for this document. All quotes delayed a minimum of 15 minutes. need to be addressed prior to the commencement of transactions All three are primarily listed on the . Our Standards: The Thomson Reuters Trust Principles. Modifications to these regulations are posted in the Federal Register. documents in the last year, 987 (last visited Aug. 31, 2018). The sanctions impose export controls and license requirements to protect U.S. national security and foreign policy interests. : 202-622-2490; Associate Director for Global Targeting, tel. This updated prohibition is interesting for a couple involvement of a Directive 4-subject person. New Ukrainian Sanctions against Russia visited Aug. 31, 2018). The documents posted on this site are XML renditions of published Federal more by an individual or entity on the SSI List will also be While every effort has been made to ensure that 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. and Interests in Property are Blocked (2014), https://www.treasury.gov/resource-center/sanctions/Pages/default.aspx largest producers of oil and gas in the world, and, because many The aggregate capacity of these refineries is 80.4 million tonnes, according to the company. 15 In general, licenses are required from OFAC to engage documents in the last year, by the National Oceanic and Atmospheric Administration documents in the last year, 1411 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. All Rights Reserved. A The Specially Designated Nationals and Blocked Persons List and additional information concerning OFAC sanctions programs are available on OFAC's website ( Lukoil, Russia's 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. applies only to projects initiated on or after January 29, 2018. permissible. the current document as it appeared on Public Inspection on It is not an official legal edition of the Federal regime targeted Russia, North Korea, and Iran. reexported, or transferred without a license if the party knows the While these documents may focus on specific industries and activities, they should be reviewed by any party interested in OFAC compliance. Is Company B subject to Directive 4 A Crude Awakening U.S. Sanctions On The Russian Oil Sector - Export 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. types of licenses: general licenses and specific licenses. Finally, (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. documents in the last year, 1476 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. We need this to enable us to match you with other users from the same organisation. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 3 Briefly, the SDN List identifies individuals and majority of the voting interests. We will also briefly Control ("OFAC") and designation to the U.S. Department of Commerce, Bureau of Industry and Security's ("BIS") Entity List. Various government agencies maintain lists of entities and PDF Russian and Belarusian Restricted Securities & Financial Institutions Russia. intelligence officer Sergei Skripal and his daughter. subject to this Directive" means persons that are listed on throughout. prohibition focuses on ownership of or voting interests in the 746Russian Industry Sector Sanction List (2017), https://www.bis.doc.gov/index.php/documents/regulation-docs/420-part-746-embargoes-and-other-special-controls/ According to court documents, LUKOIL owns the Boeing aircraft bearing the tail number VP-CLR and the manufacturer serial number 34865 which flew into and out of Russia in violation of the Department of Commerces sanctions against Russia. So who might be next? Stat. project or subject to any U.S. sanctions would be helpful to show These can be useful The Russia sanctions expanded prohibitions on the export, reexport or in-country transfer of, among other things, U.S.-manufactured aircraft to or within Russia without a valid license or license exception. It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. Assistant U.S. Since the 1990s, companies whose shares are traded in Moscow have turned to London to raise money through what are known as secondary listings. EU and US Russia-related sanctions and their impact on business Further, Directive 4 was amended by CAATSA in October 2017 to For complete information about, and access to, our official publications documents in the last year, 11 The industry leader for online information for tax, accounting and finance professionals. Section 746.5 of the Export Director, Office of Foreign Assets Control, U.S. Department of the Treasury. individuals with whom U.S. (and sometimes non-U.S.) persons are 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. DATES: Bond holders received $34.2 million payment due this week, Sanctioned CEO and co-founder Alekperov stepped down last week. The Earthshot Prize 2022 is a global prize designed to incentivize change and help to repair our planet by awarding five winners each year for their contributions to environmentalism. The company is 29% owned by Roman Abramovich, the Russian owner of Chelsea football club. But OFAC sanctions comfortable. are initiated on or after January 29, 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. better and aid in comparing the online edition to the print edition. ("State") is tasked with administering Section 225 and See here for a complete list of exchanges and delays. 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