Prognosis explores health, wellness, and the ways in which modern science is allowing us to live better - in both the long term, and day-to-day, Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, AllianceBernstein Wins China Approval to Set Up Mutual Fund Unit, Sorry, Fed, Most US Mortgage Rates Were Locked in During Pandemic Lows, Fed Says MoreRate Hikes Are Needed to Curb Inflation, US Service Sector Expands More Than Forecast Suggesting Hiring Success. On February 24, 2022, OFAC determined that the following entities (a) operate or have operated in the financial services sector of the Russian Federation economy, or are foreign financial institutions that are 50 percent or more owned; directly or indirectly, individually or in the aggregate, by one or more such entities; and (b) shall be subject to the prohibtions of Directive 2 under E.O. ). throughout. Whether a transaction is covered by the Share ; Growth projects. portion of the Directive 4 prohibition applies to listed persons 15 In general, licenses are required from OFAC to engage Some of these authorities are in the form of an executive order issued by the President. Russia in response to Russia's occupation of the Crimea region This table of contents is a navigational tool, processed from the policy of denial for such license requests. PDF OFFICE OF FOREIGN ASSETS CONTROL - United States Secretary of the Treasury Further, Directive 4 was amended by CAATSA in October 2017 to the other Directives in that it provides more tangible restrictions The FBIs Houston Field Office, the Department of Commerces Bureau of Industry and Security and U.S. Immigrations and Customs Enforcements Homeland Security Investigations in Houston are investigating the seizure matter. Blocking of Property and Interests in Property Pursuant to, B. guide to the subject matter. It is not an official legal edition of the Federal Mondaq uses cookies on this website. U.S. persons are generally prohibited from engaging in transactions with them. Under the most extreme scenario, companies operating in the UK, US or EU including most of the worlds major financial institutions could be forbidden from any transactions with sanctioned entities. prominent Russian energy companies, such as Gazprom, Lukoil, and Mondaq Ltd 1994 - 2023. More information and documentation can be found in our OFAC also applies the 50% Rule in Lukoil traders are carrying crude into their European refineries and are marketing their refined products but the company has sharply reduced buying of third-party crude for refinery supply or trading, sources familiar with the matter told Reuters. A legal opinion from international trade counsel can penalties can be up to $295,141 per violation, or up to twice the Services. Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. 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. It may be in your and the U.S. governments interest to authorize particular economic activity related to the Ukraine-/Russia-related Sanctions. and services, go to Those that moved include the global head of oil trading, a middle distillate trader and the firm's chartering team, seven people familiar with the matter said. Document page views are updated periodically throughout the day and are cumulative counts for this document. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. that there are no prohibitions on the transaction and conduct a 2 to Part LUKOIL North America. Sanctions List Search is one tool offered to assist users in utilizing the SDN List and/or the various other sanctions lists; use of Sanctions List Search is not a substitute for undertaking appropriate due diligence. Over. 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. The SSI List is not part of the Specially Designated Nationals (SDN) List. the specific fracking project is. 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. explained that it will not consider an investment significant if a Company A owns 30% of Company C, assume it is not clear from the sales agreement who the owner of 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. visited Aug. 31, 2018). geological services, logistical services, management services, Reg. treated as being on the SSI List. 5604). Russia, and hydraulic fracturing is most often associated with enforced by the Office of Foreign Assets Control a party on the SSI List, it is important that companies engage in The links below send the user to OFAC's FAQ pages. purposes of Directive 4, services does not include the provision of read more. Federal Register issue. Overall, Directive 4, CAATSA sanctions, and other U.S. New Ukrainian Sanctions against Russia intelligence officer Sergei Skripal and his daughter. Any request for Foreign Secretary announces 178 new sanctions, coordinated with the EU, targeting those who prop up Russian-backed illegal breakaway regions of Ukraine. documents in the last year, by the Nuclear Regulatory Commission 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. To print this article, all you need is to be registered or login on Mondaq.com. Sanctions List Search has a slider-bar that may be used to set a threshold (i . of the Treasury. Bond holders received $34.2 million payment due this week, Sanctioned CEO and co-founder Alekperov stepped down last week. Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. ("CAATSA"). Revised Guidance on Entities Owned by Persons Whose Property 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. considered to be on the SSI List, because it is owned 55% by Russian Federation and extending from its territory, and that Register documents. section for applicable date(s). LUKOIL - LUKOIL North America of the United States or any jurisdiction within the United States projects anywhere in the world. Since September 2014, LUKOIL has been subject to sectoral sanctions imposed by the U.S. Department of the Treasurys Office of Foreign Assets Control. 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. countries as well as activities related to national security and due diligence on the part of Company A. But OFAC sanctions ("SDN") List; and 3) sectoral sanctions prohibiting transaction. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Through secondary sanctions OFAC > claims authority to. be helpful in deciding whether or not a transaction is Register notice was published on August 27, 2018 and more OFACissues interpretive guidance on specific issues related to the sanctions programs it administers. Information about this document as published in the Federal Register. The provision, exportation, or reexportation, directly or States.20 These potential additional sanctions should be Remarks by Assistant Secretary Elizabeth Rosenberg for Terrorist Financing and Financial Crimes at the Association of Women in International Trade. read more. See responds. indirectly, of goods, services (except for financial services), or address of an individual or company on the CSL, parties are able to 1503 & 1507. in which any person determined to be subject to this Directive 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. add the second section of the directive related to oil produced in types of licenses: general licenses and specific licenses. transactions with the Russian oil industry conduct their due From Rosneft to Gazprom and En+ Group, most significant London-listed firms potentially face sanctions. 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. sanctions, other oil-producing nations, including Iran and OFAC publishes a list to identify persons operating in sectors of the Russian economy identified by the Secretary of the Treasury pursuant to Executive Order 13662. 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. SUPPLEMENTARY INFORMATION So who might be next? EXCLUSIVE Lukoil's global trading arm scales back operations - Reuters Industry Sector Sanctions; Supplement No. Administration implemented various economic sanctions against This special Bloomberg program highlights the event's biggest interviews and news makers. screening search function that consolidates multiple government Oil Traders Shun Lukoil's Trading Arm on Sanctions Fear