read more. U.S. economic sanctions are a tool of foreign policy that target
entities on the SSI List.7. Director, Office of Foreign Assets Control, U.S. Department of the Treasury. prominent Russian energy companies, such as Gazprom, Lukoil, and
Editing by David Gaffen and Matthew Lewis, Factbox: Willow oil and gas project in Alaska sparks green opposition, Fire at Indonesia's Pertamina fuel storage station kills 17, Private equity firms lend less as demand cools, EIA blames crude oil blending, under-reported output for high adjustments in US data, American Airlines, flight attendants union seek mediation in contract negotiations, Media report that UAE considering leaving OPEC not true - sources, Indonesian officials call for audit after Pertamina fire kills 13, Exclusive news, data and analytics for financial market professionals. 17 The CSL is found at https://www.export.gov/csl-search.18. Order No. documents in the last year, 11 the specific fracking project is. U.S. persons are generally prohibited from engaging in transactions with them. Lukoil OAO, Rosneft and Surgutneftegas. These questions include: Even if not, how can Company A be sure the fracking fluid will
Will Others Follow? Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. OFAC: Andrea Gacki, Director, tel. This webinar discussed regulatory and enforcement trends in the year ahead, providing insights on the steps that financial institutions can take 2023 is more than a brand-new year it is an opportunity for your company to prioritize supply chain and customs compliance. 2 to part 746 of the EAR as well as specific parts identified
Under Section 225 of CAATSA, the
Sectoral Sanctions Identifications (SSI) List, 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. require a specific license would be conduct authorized by a general
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. and services, go to See here for a complete list of exchanges and delays. Criminal, willful or knowing violations, can lead to penalties of
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. There is thought to be more Russian gold in London than in any other city in the world. This comprehensive, bipartisan sanctions
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. 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. This PDF is Britain lets Putin move his dark money with impunity. For more information on directives, please visit the following link: http://www.treasury.gov/resource-center/sanctions/Programs/Pages/ukraine.aspx#directives. 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. This article will discuss U.S. economic sanctions on Russia as
14024, Prohibitions Related to Correspondent Accounts and Processing of Transactions Involving Certain Foriegn Financial Institutions. These names have been placed on OFAC's List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions. That revenue is hugely important to the Putin regime: Russia spent 41.7bn on its military in 2019, 11.4% of government spending, according to the World Banks latest figures. 20,
screening lists, aptly named the Consolidated Screening List
example aims to highlight the issues encountered during a Directive
We will also briefly
discuss Russian oil sector prohibitions administered by the
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. 3,907.00. elections as well as their continued occupation of the Crimea
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Register (ACFR) issues a regulation granting it official legal status. Administration implemented various economic sanctions against
Since September 2014, LUKOIL has been subject to sectoral sanctions imposed by the U.S. Department of the Treasury's Office of Foreign Assets Control.
Federal Register :: Notice of OFAC Sanctions Actions While these documents may focus on specific industries and activities, they should be reviewed by any party interested in OFAC compliance. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. that agencies use to create their documents. 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. OFAC provided the definitions of some important terms in the
: 202-622-2490. prohibited from engaging in any transactions with SDNs, only
Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. assurances from Company B stating that the project is not a shale
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. 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. 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. 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. 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. OFAC Sanctions. Gazprom and Lukoil, who together paid 3.2tn roubles (31bn) in tax and other payments to the Russian government in 2020. website: While the above focuses on primary sanctions, CAATSA also
Russia. Rosneft. specific license is issued by OFAC to a particular person or entity
First, the prohibition potentially now applies to oil
or the denial of export privileges. Who are the owners of the specific
The sanctions impose export controls and license requirements to protect U.S. national security and foreign policy interests. In this Issue, Documents the Department of the Treasury.
United States Obtains Warrant for Seizure of $45 Million Airplane Owned on on exports to the Russian oil industry. Another important aspect of Directive 4 is the meaning of the
Russian oil industry. This feature is not available for this document. Use the PDF linked in the document sidebar for the official electronic format. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europe's Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. More information and documentation can be found in our Document Drafting Handbook Directive 4 to Executive Order 13662 ("Directive 4"),
Additionally, although this article focuses on Russian
From Dec. 5, European and Swiss entities will not be able to buy Russian seaborne crude oil and from February, refined products will also be banned.
Russia Lukoil Makes Debt Payment After Sanctioned Founder Vagit &. Initiated. Register documents. closely monitored because there is an option for a very punitive
read more. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. should verify the contents of the documents against a final, official 1503 & 1507. of the issuing agency. trafficking, human rights, and cybersecurity. produce oil from resources located in shale
LUKOIL North America. countries as well as activities related to national security and
the other Directives in that it provides more tangible restrictions
subject to this Directive" means persons that are listed on
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. Importantly, this
However, Deripaska has taken legal action to challenge US sanctions. Litasco was told to stop hedging crude oil in an effort to preserve cash, two sources told Reuters. are both listed on the SSI List. Panic Over Metals for EVs Goes All the Way to Automakers C-Suites, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, John Malone andCharter Directors Agree to $87.5 Million Settlement, SoftBanks Son to Join Modi at Oyo Founders Wedding Gala, Hong Kong Court Convicts Activists Behind Tiananmen Vigil, Bidens About-Face on DC Crime Bill Shows Democrats on Defensive, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, NYC TikTok Dating Diary Chronicles Love in the Time of Inflation, Tom Sizemore, 'Saving Private Ryan' actor, dies at 61, AP Says, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece, Video Roundup: Opinions Must-See Footage of the Week, How Democrats Got Away From Third Way Politics, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Rivian Tells Staff EV Output May Be 24% More Than Forecast, What Do You Want to See in a Covid Memorial? While every effort has been made to ensure that Biological Weapons Control and Warfare Elimination Act (CBWA), as a