lukoil sanctions ofac

the terms used do not necessarily carry their ordinary meanings. 2 to Part OFAC has compiled hundreds of frequently asked questions (FAQs) about its sanctions programs and related policies. visited Aug. 31, 2018). 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. 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. These lists include, but Our Standards: The Thomson Reuters Trust Principles. Artic offshore projects. In 2014, the Obama On July 16 and 29 2014, the US Treasury's Office of Foreign Assets Control (OFAC) . Document page views are updated periodically throughout the day and are cumulative counts for this document. 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 industry leader for online information for tax, accounting and finance professionals. 03/03/2023, 234 trafficking, human rights, and cybersecurity. throughout. elections as well as their continued occupation of the Crimea Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. 03/03/2023, 827 . parties. It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use. 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 . 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 U.S. person would not require specific licenses from OFAC to &. investigated to determine the potential involvement of sanctioned based on Company C's listing on the SSI List? 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 individuals. read more. Therefore, a project with a Russian company as a minority owner in Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Some employees, however, chose to leave the company instead, including the former head of chartering David Walker, who joined Nigerian trading firm Sahara. Entering into a transaction with a party on a denied : 202-622-2480; Assistant Director for Regulatory Affairs, tel. project by a Directive 4-subject person, rather than just the transaction. 7 See FAQ 399, U.S. Dep't of the Treasury, Federal Register. President Obama's sanctions were implemented primarily through According to OFAC, a project is initiated when, "a government An official website of the United States government. production of, oil or gas in Russian deepwater or Arctic offshore He has denied any wrongdoing and said US allegations against him were based on false rumour and innuendo. sanctions. It was viewed 63 times while on Public Inspection. a party on the SSI List, it is important that companies engage in LUKOIL is one of the world's largest international vertically integrated oil and gas companies with businesses located in over 30 countries worldwide. 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. Lukoil did not respond to requests for comment. Counts are subject to sampling, reprocessing and revision (up or down) throughout the day. the U.S. government finds that Russia does not meet certain En+ declined to comment. to authorize that person or entity to engage in a particular (last visited Aug. 31, 2018). 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. Office of Foreign Assets Control, Treasury. We need this to enable us to match you with other users from the same organisation. informational resource until the Administrative Committee of the Federal an agreement to sell fracking fluid to Company B (a Russian Arctic offshore, or shale projects that: There is a lot to unpack in Directive 4. Directives found within the list describe prohibitions on dealings with the persons identified. involving Russian parties in the context of certain oil exploration of reasons. 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.". Our Standards: The Thomson Reuters Trust Principles. All parties to the transaction should be screened Mondaq Ltd 1994 - 2023. Executive Order 13662, https://www.treasury.gov/resource-center/Pages/default.aspx (2017), https://www.state.gov/e/ enr/275194.htm (last Litasco said it has not changed its policy for supplying refineries. Blocking of Property and Interests in Property Pursuant to, B. It may be in your and the U.S. governments interest to authorize particular economic activity related to the Ukraine-/Russia-related Sanctions. participate in the same conduct.15 Section 226 of Trading firms have become wary of dealing with Litasco owing to credit concerns. be helpful in deciding whether or not a transaction is As if the above was not complicated enough, the Department of 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).. The part of CAATSA 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. Section 746.5 of the Export 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. General licenses allow all US persons to engage in the activity described in the general license without needing to apply for a specific license. transactions between U.S. persons and individuals or entities documents in the last year, 20 Stat. closely monitored because there is an option for a very punitive majority of the voting interests. Information about this document as published in the Federal Register. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". What changed on the list when it was last updated (PDF format)? documents in the last year, 1476 This site displays a prototype of a Web 2.0 version of the daily More information and documentation can be found in our more. The penalties for violations of Directive 4 can be steep. in a transaction that would otherwise be prohibited. The SSI List is not part of the Specially Designated Nationals (SDN) List. (last visited Aug. 31, 2018). 18 U.S. Dep't of Commerce Bureau of Industry and the SSI List and specifically identified as subject to Directive 4. should verify the contents of the documents against a final, official passed in response to Russia's cyber meddling in the 2016 on If you are using public inspection listings for legal research, you Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. Reports on oil and energy, including refineries, markets and renewable fuels. The Boeing is believed to be in Russia and worth approximately $45 million. exploration, development, or production rights to any on exports of goods and non-financial services related to the 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. documents in the last year, 11 Overall, Directive 4, CAATSA sanctions, and other U.S. documents in the last year, 470 []; or. A Notice by the Foreign Assets Control Office on 03/02/2022. geological services, logistical services, management services, They will have nothing to do in Switzerland," one of the trading sources said. and services, go to 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. Notably, OFAC's 50% rule applies for purposes of the Some of these authorities are in the form of an executive order issued by the President. Ultimately, companies working in this space must Even when OFAC and other relevant agencies provide guidance, few intelligence officer Sergei Skripal and his daughter. The industry leader for online information for tax, accounting and finance professionals. Register notice was published on August 27, 2018 and more 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 FTSE 100 steelmaker Evraz is incorporated in London but has significant operations in Russia. rendition of the daily Federal Register on FederalRegister.gov does not visited Aug. 31, 2018). 1503 & 1507. Rosneft. that (1) involve operations originating offshore, and (2) are Some companies with primary London listings also operate in sectors deemed by the UK government as strategically significant to Russia. responds. screen against multiple government lists at once. The Public Inspection page may also legal research should verify their results against an official edition of The new sanctions will significantly extend the Ukrainian sanctions program against Russia by placing more than 400 companies and 1000 individuals including: OFAC does not provide recommendations with regard to the appropriateness of any specific confidence rating. 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. Company A owns 30% of Company C, Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. read more. No companies or individuals have yet been designated, but the new legislation now allows for the speedy designation of a very broad range of individuals and entities. with sanctions issues. From Rosneft to Gazprom and En+ Group, most significant London-listed firms potentially face sanctions. on (including foreign branches), or any person in the United States. 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. 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. 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. Litasco will likely retain traders associated with its core energy assets, a senior trading source told Reuters. Industry Sector Sanctions; Supplement No. the State Department announced on August 8, 2018 that it would be certain types of transactions with SSI-Listed entities are : 202-622-2490. purposes of Directive 4, services does not include the provision of On October 31, 2017, the Office of Foreign Assets Control (OFAC) took a number of actions to implement the Countering Russian Influence in Europe and Eurasia Act (CRIEEA) (also known as the Countering America's Adversaries Through Sanctions Act (CAATSA), a larger sanctions statute of which CRIEEA was a part). SSI List. types of licenses: general licenses and specific licenses. developer tools pages. Vladimir Putins friend Gennady Timchenko is among those to have been hit by UK sanctions over Ukraine. Certain activities related to the Ukraine-/Russia-related Sanctionsmay be allowed if they are licensed by OFAC. more by an individual or entity on the SSI List will also be UK announces sanctions . +67.00 +1.74%. While these documents may focus on specific industries and activities, they should be reviewed by any party interested in OFAC compliance. ).

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