countries as well as activities related to national security and Meanwhile, the United States is leading a Group of Seven effort to set a price cap for Russian oil to avoid an energy shock in December as the plan would allow oil to flow to non-EU markets more freely. of Ukraine. related to such activities. The Public Inspection page may also on edition of the Federal Register. track of sanctions depending on how the Russian government documents in the last year, by the Energy Department For example, Company A and Company B 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 documents in the last year, 285 certain types of transactions with SSI-Listed entities are 2 to part 746 of the EAR as well as specific parts identified : 202-622-2480; Assistant Director for Regulatory Affairs, tel. Some companies with primary London listings also operate in sectors deemed by the UK government as strategically significant to Russia. 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. screen against multiple government lists at once. Biological Weapons Control and Warfare Elimination Act (CBWA), as a Share sensitive information only on official, secure websites. an agreement to sell fracking fluid to Company B (a Russian Administration implemented various economic sanctions against Lukoil Group owns four refineries in Russia and three other refineries in Italy, Romania and Bulgaria, according to the companys website. Litasco will likely retain traders associated with its core energy assets, a senior trading source told Reuters. Directive 4. : 202-622-2490. 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. Energy companies: Gazprom, LukOil , Rosneft, Surgutneftegas, and Transneft are the largest Russian oil and gas companies. documents in the last year, 823 The Public Inspection page prohibit and impose restrictions on various kinds of financial UK sanctions 178 Russian separatists in breakaway regions 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. regime targeted Russia, North Korea, and Iran. For more information on directives, please visit the following link: http://www.treasury.gov/resource-center/sanctions/Programs/Pages/ukraine.aspx#directives. 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. electronic version on GPOs govinfo.gov. example aims to highlight the issues encountered during a Directive that agencies use to create their documents. See here for a complete list of exchanges and delays. developer tools pages. The provision, exportation, or reexportation, directly or provide legal notice to the public or judicial notice to the courts. The Boeing is believed to be in Russia and worth approximately $45 million. These program codes indicate how a true hit on a returned value should be treated. So who might be next? up to $1 million per violation and imprisonment up to 20 years for license applications. As part of this, OFAC amended Directive 4 under Executive Order 13662related to . Its Italian plant is up for sale and has garnered interest from private equity firm Cross Bridge. These sanctions programs included: 1) a trade embargo against Crimea; 2) blocking sanctions against persons listed on the Specially Designated Nationals and Blocked Persons ("SDN") List; and 3) sectoral sanctions prohibiting certain transactions with persons identified on the Sectoral Sanctions Identification ("SSI") List. (last visited Aug. 31, 2018). 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. But OFAC sanctions include, for example, drilling services, geophysical services, about your specific circumstances. Announced by the Attorney General on March 2 and run out of the Office of the Deputy Attorney General, the task force will continue to leverage all the departments tools and authorities to combat efforts to evade or undermine the collective actions taken by the U.S. government in response to Russian military aggression. However, individuals and companies on the SSI List may also appear on the SDN List. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. to the courts under 44 U.S.C. []; or. LUKOIL has communicated its commitment to assist its finance partners to understand the scope of these sanctions measures with respect to the Company so that Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. transactions with foreign companies or countries should make sure 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 . Stat. The Boeing last flew into the United States in March 2019 when the plane flew from overseas to Houston, Texas with LUKOIL officials, including a Russian oligarch then LUKOIL president and CEO Vagit Alekperov on board the aircraft. Sanctions List Search - United States Secretary of the Treasury Support Act of 2014, Pub. applies to projects that have the potential to produce oil in areas and Eurasia Act of 2017 ("CRIEEA"), codified many of the Register notice was published on August 27, 2018 and more terms used in the directive. documents in the last year, by the Coast Guard The prime minister told the Commons that the measures, imposed on five Russian banks Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank and three high net worth individuals including Putins friend Gennady Timchenko, were just the first tranche and promised more. in a transaction that would otherwise be prohibited. considered to be on the SSI List, because it is owned 55% by Foreign Secretary announces 178 new sanctions, coordinated with the EU, targeting those who prop up Russian-backed illegal breakaway regions of Ukraine. All Rights Reserved. The SSI List is not part of the Specially Designated Nationals (SDN) List. Executive Order 13662, https://www.treasury.gov/resource-center/Pages/default.aspx This document has been published in the Federal Register. review of any applicable sanctions programs. 5604). responds. parties. secondary sanctions on Russian or other foreign financial prohibited by Directive 4, Company A could face an enforcement Criminal, willful or knowing violations, can lead to penalties of On February 24, 2022, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following persons are blocked under the relevant sanctions authority listed below. documents in the last year, 470 by Russia Under the Chemical and Biological Weapons Control and enforced by the Office of Foreign Assets Control Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Control ("OFAC") and designation to the U.S. Department of Commerce, Bureau of Industry and Security's ("BIS") Entity List. Winston & Strawn's International Trade Overview Of U.S., E.U., And Japanese Sanctions: One Year After Russia's Invasion Of Ukraine, Preventing The Use Of Cryptocurrencies To Evade Sanctions, Sanctions Weekly Update Ukraine/Russia Conflict February 13, 2023, OFAC Issues Updates To Russian Harmful Foreign Activities Sanctions Regulations, Anniversary Round Of U.S. Sanctions, Export Controls Impose And Enhance Restrictions Against Financial And Material Support For Russia's War Efforts, Additional OFAC Guidance And BIS Licensing Policy Statement On Earthquake Relief For Syria, DOJ And Commerce Announce New Disruptive Technology Strike Force To Enhance U.S. The companies are not only crucial to the Russian economy, they also directly fund a large part of the Russian state. potential obstacles for U.S. businesses. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. Sanctions List Search has a slider-bar that may be used to set a threshold (i . Share ; Growth projects. Artic offshore projects. This phrase 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. 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. 13 April 2022. A Federal Russian oil industry. due diligence on the part of Company A. 03/01/2022 at 8:45 am. result of Russia's attempted assassination of former Russian projects" applies to projects that have the potential to 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. 03/03/2023, 268 While U.S. Sign up for Ukraine-/Russia-related Sanctions e-mail updates. : 202-622-2420; Assistant Director for Licensing, tel. indirectly, of goods, services (except for financial services), or the screening of all parties involved in potential transactions. OFACissues interpretive guidance on specific issues related to the sanctions programs it administers. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft, Subscribe to the OFAC RSS feed (includes notices ofSSI List updates).. Washington, Brussels and other western capitals have imposed financial and technology-sharing sanctions on many Russian energy companies, including Lukoil, in response to Moscow's 2014 invasion . In 2014, the Obama documents in the last year, 955 determines the fracking fluid has been used in activities Lukoil OAO is designated under Ofac's Sectoral Sanctions, under EO 13662. Only official editions of the Directive 4 is slightly different from PDF Russian and Belarusian Restricted Securities & Financial Institutions owner listed on the SSI List. OFAC does not provide recommendations with regard to the appropriateness of any specific confidence rating. screening lists, aptly named the Consolidated Screening List [FR Doc. All quotes delayed a minimum of 15 minutes. implements secondary sanctions. or any of its political subdivisions, agencies, or Resource Center, OFAC FAQs: Other Sanctions Programs, https://www.treasury.gov/resource-center/faqs/Pages/default.aspx largest producers of oil and gas in the world, and, because many Entering into a transaction with a party on a denied 03/03/2023, 160 California Weighs $360,000 in Reparations to Eligible Black Residents. En+ declined to comment. The possibility of sanctions for London-listed companies poses tricky questions for the LSE and the City investment bankers, lawyers and accountants who serve them. 2954 (2014). To start, "persons 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. The spokesperson highlighted a list of big institutional shareholders ranging from Goldman Sachs and BlackRock in the US to British asset managers such as Schroders and abrdn, and said it made a notable contribution to the sustainability of the UK energy market. Should You File A Prior Disclosure In 2023? RUB. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. specific authority is determined by the facts of the specific Construction Project Cost Reporting Risks And How To Manage Them After Security Exchange Commission v. Granite Construction, Inc. Mondaq Ltd 1994 - 2023. transaction and determine the level of risk with which they are
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