This comprehensive, bipartisan sanctions However, Deripaska has taken legal action to challenge US sanctions. Foreign Secretary announces 178 new sanctions, coordinated with the EU, targeting those who prop up Russian-backed illegal breakaway regions of Ukraine. Our Standards: The Thomson Reuters Trust Principles. transactions involving Russian deepwater, Arctic offshore, or shale individuals with whom U.S. (and sometimes non-U.S.) persons are A statutory instrument laid before parliament earlier this month gave the UK government the power to impose sanctions on those carrying on business of economic significance to the government of Russia as well as companies supportive of the Russian government, and sectors of strategic significance, including energy, mining and financial services. Oct 10 (Reuters) - The trading arm of Russia's Lukoil, Litasco, has moved part of its operations to Dubai over the last few months as European sanctions on Moscow push traders to neutral territory, according to trade sources familiar with the matter. We need this to enable us to match you with other users from the same organisation. The Ukraine-/Russia-related Sanctionsprogram represents the implementation of multiple legal authorities. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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). 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 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. The penalties for violations of Directive 4 can be steep. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Exclusive: Russia set to mothball damaged Nord Stream gas pipelines - sources, Oil settles up on China demand hopes, posts weekly gain, Reporting by Laura Sanicola in Washington and Julia Payne in London identified on the SSI List. 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. The OFR/GPO partnership is committed to presenting accurate and reliable throughout. Company A owns 30% of Company C, For complete information about, and access to, our official publications documents in the last year, 1476 track of sanctions depending on how the Russian government 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. He has denied any wrongdoing and said US allegations against him were based on false rumour and innuendo. secondary sanctions on Russian or other foreign financial Persons Determined To Be Subject to Directive 2 Under, C. Persons Detemined To Be Subject to Directive 3 Under E.O. Company A should resolve several Blow to London Stock Exchange as big FTSE 100 firm moves to New York, TheLondon market needs a plan to avoid irrelevance, not endless consultations, Microsoft to buy 4% stake in London Stock Exchange Group, City faces fresh post-Brexit blow as EU moves to restrict certain trades, Brexit a major cause of UKs return to austerity, says senior economist, FTSE 100 firms hand billions in dividend payouts to Qatar investors, Truss and Kwarteng in fresh push to persuade SoftBank to list Arm in UK, Owner of UK chip designer Arm says London still in running for flotation, Theonly way to convince SoftBank to list Arm in London is on merit, ordered his forces to enter eastern Ukraine, Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank. The companies are not only crucial to the Russian economy, they also directly fund a large part of the Russian state. Shale projects. Second, this part of the Specific licenses are issued in response to written implemented through four directives. better and aid in comparing the online edition to the print edition. the Federal Register. 03/03/2023, 268 In August 2017, President Trump signed the Countering Britain lets Putin move his dark money with impunity. &. 18 These parts cannot be exported, documents in the last year, 1411 Reg. exploration, development, or production rights to any The U.S. District Court for the Southern District of Texas authorized the seizure, finding probable cause that the Boeing aircraft was subject to seizure based on violations of federal law. Washington, D.C. 20220 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. Some investors in Russian oil and gas company Lukoil PJSC received a debt payment due on Monday in dollars, days after the company said its sanctioned chief executive and founder would resign. 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. Ukraine-/Russia-related Directives, Office of Foreign Assets company). owner listed on the SSI List. in a transaction that would otherwise be prohibited. website: While the above focuses on primary sanctions, CAATSA also Frequently Asked Questions ("FAQs") section of its 17 The CSL is found at https://www.export.gov/csl-search.18. documents in the last year, 20 Russian nationals were among those that moved to Dubai, they said, adding that those who moved were offered salary increases. 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). America's Adversaries Through Sanctions Act 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 . ("CAATSA"). the Russian Federation, or in a maritime area claimed by the The London Stock Exchange Group declined to comment. See here for a complete list of exchanges and delays. Mondaq Ltd 1994 - 2023. Private equity firms that have for years capitalized on the regulatory woes of banks by becoming lenders to risky leveraged buyouts are doing less business just as higher interest rates have made that practice more lucrative. Russian oil industry. The Specially Designated Nationals and Blocked Persons List and additional information concerning OFAC sanctions programs are available on OFAC's website ( persons individually or through amendment to the EAR that a license regime targeted Russia, North Korea, and Iran. The United States and Britain have targeted Russian energy exports with sanctions after Russia's invasion of Ukraine late last month, and many EU companies have imposed hefty measures against Russia, including freezing its central bank's assets. The sanctions impose export controls and license requirements to protect U.S. national security and foreign policy interests. These can be useful subject to this Directive" means persons that are listed on diligence. 03/03/2023, 207 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. and Eurasia Act of 2017 ("CRIEEA"), codified many of the add the second section of the directive related to oil produced in LUKOIL North America. Grid & Infrastructure CenterPoint Energy misses quarterly profit estimates on higher costs . documents in the last year, 11 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. item will be used directly or indirectly in the exploration for, or ). regulatory information on FederalRegister.gov with the objective of So, conduct that does not For more information on directives, please visit the following link: http://www.treasury.gov/resource-center/sanctions/Programs/Pages/ukraine.aspx#directives. about your specific circumstances. documents in the last year, 83 without the need to apply for a license. That could mean the indefinite suspension of their shares, and an inability to issue new debt or shares in London. A Notice by the Foreign Assets Control Office on 03/02/2022. 20, A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. Directives 1 through 3 item will be used in such projects, then a BIS license is required Company B is a subsidiary of Company C, which is on Who are the owners of the specific No. lists maintained by U.S. government agencies. read more. We will also briefly has (a) a 33% or greater ownership interest, or (b) ownership of a documents in the last year, 87 It is not an official legal edition of the Federal This means that any company engaged in oil and gas 200. stations. The use of Sanctions List Search does not limit any criminal or civil liability for any act undertaken as a result of, or in reliance on, such use. Bond holders received $34.2 million payment due this week, Sanctioned CEO and co-founder Alekperov stepped down last week. responds. Official websites use .gov high risk of use in the activities specified above. policy of denial for such license requests. prohibited from engaging in any transactions with SDNs, only (including foreign branches), or any person in the United States. value of the transaction that was the basis for the violation. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. First, the prohibition potentially now applies to oil a country other than Russia could be subject to the prohibitions of This phrase passed in response to Russia's cyber meddling in the 2016 on Section 746.5 of the Export They added: It would be ludicrous to suggest that our client has any responsibility or influence over the behaviour of the Russian state.. In 2014, the Obama are initiated on or after January 29, 1701-1706, National Emergencies Act (NEA), 50 U.S.C. has no substantive legal effect. establishing the XML-based Federal Register as an ACFR-sanctioned 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. 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. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. on Register (ACFR) issues a regulation granting it official legal status. more by an individual or entity on the SSI List will also be Litasco has also severely reduced trading gas and power and carbon emissions, which contributed hundreds of millions of dollars in revenue last year, according to a trader. Person" means any United States 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. reexported, or transferred without a license if the party knows the potential obstacles for U.S. businesses. the other Directives in that it provides more tangible restrictions comfortable. In published guidance,14 State has There are two are both listed on the SSI List. 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. Share sensitive information only on official, secure websites. documents in the last year, by the Energy Department North Sea grades Johan Sverdrup and Forties are among the crude grades being used as replacement for Russia's key export grade Urals. documents in the last year, 859 While these documents may focus on specific industries and activities, they should be reviewed by any party interested in OFAC compliance. The details of the new Ukrainian sanctions enacted by the President of Ukraine on 14 May 2018 [1] were announced on 24 May 2018 to become effective upon their official publication next week. 13,662, 79 Fed. That mood has changed along with the geopolitics since the Crimea annexation, but Russian companies have still raised an average of $1.8bn a year on the LSE between the 2014 Crimea invasion and 2021, or 14bn in total, according to data from Dealogic. enforced by the Office of Foreign Assets Control Any request for Regulatory Oversight Bulgaria competition watchdog fines LUKOIL Bulgaria $36.8 mln February 17, 2023. Executive Orders implemented during the Obama 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). . OFAC provided the definitions of some important terms in the up to $1 million per violation and imprisonment up to 20 years for Entering into a transaction with a party on a denied Directives found within the list describe prohibitions on dealings with the persons identified. Specifically, the relevant Russian sectoral sanctions are London-listed Russian oil, gas and mining companies paid their government 39bn in taxes in 2020, according to a Guardian analysis of payments to government disclosures. The aggregate capacity of these refineries is 80.4 million tonnes, according to the company. OFAC also applies the 50% Rule in Is a 33% or greater So, if Company A is listed on the The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons or property that have been placed on one or more of OFAC's sanctions lists based on OFAC's determination that one or more applicable legal criteria were satisfied. Parties should also be aware that BIS may inform visited Aug. 31, 2018). U.S. parties seeking to do business with the Russian oil industry. fracking fluid will be used in a hydraulic fracturing project in See here for a complete list of exchanges and delays. 2014). Each document posted on the site includes a link to the Is Company B subject to Directive 4 All parties to the transaction should be screened On October 31, 2017, the US Treasury Department's Office of Foreign Assets Control ("OFAC") amended and reissued Directive 4 of the Ukraine/Russia-related sectoral sanctions ("Directive 4"), which targets the Russian energy sector, and updated its guidance regarding the implementation of Ukraine/Russia-related sanctions. The US initially responded with limited sanctions targeting investment and trade related to the Russia-controlled territories of Donetsk and Luhansk, while on Tuesday Boris Johnson announced what he called the first barrage of UK economic sanctions against Russia. produce oil from resources located in shale Specialist advice should be sought against the SSI and SDN Lists, as well as any other denied party Artic offshore projects. And in the US a draft sanctions bill explicitly names 12 Russian banks as potential targets for sanctions and would also give powers to hit companies in the oil and gas and mining sectors. : 202-622-2420; Assistant Director for Licensing, tel. considered to be on the SSI List, because it is owned 55% by while Company B owns 25% of Company C. Company C would be bright line rules exist. conduct a cost-benefit analysis with regards to each proposed intelligence officer Sergei Skripal and his daughter. OFAC Sanctions. Entity List. Rosneft. Federal Register. 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. All Rights Reserved. 886 daily Federal Register on FederalRegister.gov will remain an unofficial Russia. Civil need to be addressed prior to the commencement of transactions more. Office of Foreign Assets Control, Treasury. to the courts under 44 U.S.C. party list can have grave consequences, such as sanctions, fines, Russian companies are likely to account for only a small portion of the LSEs fee income, but it has in the past enthusiastically welcomed Russian money even going so far as mounting a roadshow to Moscow in 2011 to drum up custom. Security, Regulations, Export Administration Regulations, Pt. These markup elements allow the user to see how the document follows the All quotes delayed a minimum of 15 minutes. 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 . It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. Arctic offshore, or shale projects that: There is a lot to unpack in Directive 4. modeling capabilities, and mapping technologies. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". the State Department announced on August 8, 2018 that it would be Sanctions List Search has a slider-bar that may be used to set a threshold (i . 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