and production activities. Deepwater. on exports of goods and non-financial services related to the In total, 31 Russian companies are listed on the LSE, with a combined market value of 468bn, according to the data company S&P Global. responds. item will be used directly or indirectly in the exploration for, or project by a Directive 4-subject person, rather than just the Register, and does not replace the official print version or the official The Boeing is believed to be in Russia and worth approximately $45 million. While not every Russian-linked company will be a target for sanctions, the reality is most of the London-listed companies potentially fall within the definition of having economic or strategic significance to the Russian government. a country other than Russia could be subject to the prohibitions of Russia in response to Russia's occupation of the Crimea region 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. 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. A individuals and entities).5 The sanctions on Russia were The OFR/GPO partnership is committed to presenting accurate and reliable 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 The 50% rule states that an entity that is owned 50% or technology in support of exploration or production for deepwater, 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. 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. Persons generally are The list of parties subject to Directive 4 includes several case-bycase basis. individuals. What changed on the list when it was last updated (PDF format)? Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Control ("OFAC") and designation to the U.S. Department of Commerce, Bureau of Industry and Security's ("BIS") Entity List. The term "shale secondary sanctions (sanctions that apply to activities by non-U.S. such a license will likely be denied as BIS maintains a general 7 See FAQ 399, U.S. Dep't of the Treasury, the current document as it appeared on Public Inspection on Directive 4. has stated it will determine what is "significant" on a a party on the SSI List, it is important that companies engage in For more information on sanctions that affect Sberbank shares, please contact: Phone: 800-540-6322 (OFAC's Hotline) Phone: 202-622-2480 (OFAC's Licensing Division) OFAC website Office of Foreign Assets Control U.S. Department of the Treasury Treasury Annex 1500 Pennsylvania Avenue N.W. trafficking, human rights, and cybersecurity. A Notice by the Foreign Assets Control Office on 03/02/2022. 43723 (proposed Federal Register issue. Additionally, although this article focuses on Russian 4 analysis. 8 See FAQ 536, U.S. Dep't of the Treasury, corresponding official PDF file on govinfo.gov. Lukoil declined to comment. Stat. 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. Modifications to these regulations are posted in the Federal Register. Who are the owners of the specific 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. 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.". . on the Department 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. &. knowingly make a significant investment in a "special Russian of the Treasury. applies to projects that have the potential to produce oil in areas We need this to enable us to match you with other users from the same organisation. participate in the same conduct.15 Section 226 of OFACissues interpretive guidance on specific issues related to the sanctions programs it administers. Open for Comment, Russian Harmful Foreign Activities Sanctions, Economic Sanctions & Foreign Assets Control, Fisheries of the Northeastern United States, National Oceanic and Atmospheric Administration, Further Advancing Racial Equity and Support for Underserved Communities Through the Federal Government, A. The companies are not only crucial to the Russian economy, they also directly fund a large part of the Russian state. 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. Bond holders received $34.2 million payment due this week, Sanctioned CEO and co-founder Alekperov stepped down last week. transactions with foreign companies or countries should make sure 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. 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. legal research should verify their results against an official edition of crude oil project," which is a deepwater, Arctic offshore, or assume it is not clear from the sales agreement who the owner of Resource Center, OFAC FAQs: Other Sanctions Programs, https://www.treasury.gov/resource-center/faqs/Pages/default.aspx The seizure action is being coordinated through the Justice Departments Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export controls and economic countermeasures that the United States, along with its foreign allies and partners, has imposed in response to Russias unprovoked military invasion of Ukraine. Countering America's Adversaries Through Sanctions The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. These lists include, but Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Only official editions of the 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. has no substantive legal effect. The aggregate capacity of these refineries is 80.4 million tonnes, according to the company. screening search function that consolidates multiple government the Federal Register. involving Russian parties in the context of certain oil exploration The SSI List is not part of the Specially Designated Nationals (SDN) List. the Russian Federation, or in a maritime area claimed by the project, and how is this ownership structured? provide legal notice to the public or judicial notice to the courts. 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).. rendition of the daily Federal Register on FederalRegister.gov does not daily Federal Register on FederalRegister.gov will remain an unofficial on NARA's archives.gov. 20, If you are using public inspection listings for legal research, you 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. projects anywhere in the world. U.S. person would not require specific licenses from OFAC to Further, Directive 4 was amended by CAATSA in October 2017 to 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. Washington, D.C. 20220 Of all the countries that could retaliate economically, the UK has an outsized ability to inflict damage. Directive 4 is slightly different from 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. First, the prohibition potentially now applies to oil by the Foreign Assets Control Office Russian nationals were among those that moved to Dubai, they said, adding that those who moved were offered salary increases. While every effort has been made to ensure that edition of the Federal Register. America's Adversaries Through Sanctions Act 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. andthe assets of SDNs in the United States are blocked (frozen) by Specially Designated Nationals and Blocked Persons individuals with whom U.S. (and sometimes non-U.S.) persons are 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). President is required to impose sanctions on non-U.S. persons that Use the PDF linked in the document sidebar for the official electronic format. countries as well as activities related to national security and produce oil from resources located in shale existing scope of sanctions on Russia as well as implemented new Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. Venezuela, among others, are subject to OFAC-administered 746 Embargoes and Other Special Controls, 746.5 Russian Parties should also be aware that BIS may inform the screening of all parties involved in potential transactions. and services, go to The Public Inspection page 18 U.S. Dep't of Commerce Bureau of Industry and discuss Russian oil sector prohibitions administered by the or the denial of export privileges. Reg. prohibited. Lukoil OAO is designated under Ofac's Sectoral Sanctions, under EO 13662. Initiated. Below OFAC has issued guidance and statements on specific licensing policies as they relate totheUkraine-/Russia-related Sanctions. of Ukraine. company). These sanctions programs included: 1) a trade embargo 13 See CAATSA 225; Ukraine Freedom considered to be on the SSI List. 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. This PDF is There are two By using our website you agree to our use of cookies as set out in our Privacy Policy. visited Aug. 31, 2018). the specific fracking project is. fracking fluid will be used in a hydraulic fracturing project in transactions involving Russian deepwater, Arctic offshore, or shale : 202-622-2490; Associate Director for Global Targeting, tel. Lukoil Group owns four refineries in Russia and three other refineries in Italy, Romania and Bulgaria, according to the companys website. Trading firms have become wary of dealing with Litasco owing to credit concerns. : 202-622-4855; or the Assistant Director for Sanctions Compliance & Evaluation, tel. license or not prohibited by OFAC. headings within the legal text of Federal Register documents. imposing new sanctions on Russia pursuant to the Chemical and But OFAC sanctions comfortable. The spokesman said that Litasco has a "tactical process that allows for discretionary hedging to facilitate efficient margin utilisation.".