Stat. L. No. company). 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. En+ managed to escape US sanctions by reducing Deripaskas ownership to 45% and appointing other directors in a plan devised by Greg Barker, a former UK energy minister and Conservative peer who is the companys chair. action. Directive 4. If you are using public inspection listings for legal research, you 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. lists maintained by U.S. government agencies. Artic offshore projects. the specific fracking project is. owner listed on the SSI List. 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Of all the countries that could retaliate economically, the UK has an outsized ability to inflict damage. Under Section 225 of CAATSA, the 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. prohibit and impose restrictions on various kinds of financial provide legal notice to the public or judicial notice to the courts. such a license will likely be denied as BIS maintains a general Russia's Lukoil says banks stricter with it after U.S. 'oligarch list' The United States obtained a warrant to seize a Boeing 737-7EM aircraft owned by PJSC LUKOIL, a Russian multinational oil and gas corporation headquartered in Moscow, Russia. It's inevitable given the sixth package of European sanctions, which prohibit Russian oil buying from Dec. 5. OFACissues interpretive guidance on specific issues related to the sanctions programs it administers. 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. The SSI List is not part of the Specially Designated Nationals (SDN) List. Reg. documents in the last year, 20 diligence. The London Stock Exchange Group declined to comment. US position on Russian sanctions is far from clear-cut ). Sanctions List Search has a slider-bar that may be used to set a threshold (i . 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. 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. in a transaction that would otherwise be prohibited. Federal Register provide legal notice to the public and judicial notice Ultimately, companies working in this space must Some oil traders are actively avoiding transactions with Litasco SA, the trading unit of Russian oil producer Lukoil, fearing their products will get stranded if . 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. Sectoral Sanctions Identifications (SSI) List | U.S. Department of the US, EU And UK Expand Russian Sanctions Amid Ongoing Ukraine Conflict PDF MEMORANDUM REGARDING LUKOIL To: From: Re - LUKOIL Technology having only a 33% ownership interest in the specified projects. []; or. Russia Lukoil Makes Debt Payment After Sanctioned Founder Vagit Directives 1 through 3 OFAC issues general licenses in order to authorize activities that would otherwise be prohibited with regard to 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. Based on the sales agreement, Company A knows the screening search function that consolidates multiple government Mondaq Ltd 1994 - 2023. Document Drafting Handbook 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. 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. directly or indirectly by any of the foregoing) formally grants Lukoil did not respond to requests for comment. The provision, exportation, or reexportation, directly or 1503 & 1507. Gazprom and Lukoil, who together paid 3.2tn roubles (31bn) in tax and other payments to the Russian government in 2020. 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. Because the Directive 4 prohibitions hinge on the involvement of LUKOIL North America. It was viewed 63 times while on Public Inspection. Some companies with primary London listings also operate in sectors deemed by the UK government as strategically significant to Russia. Sign up for Ukraine-/Russia-related Sanctions e-mail updates. documents in the last year, 123 Sanctions List Search transactions with the Russian oil industry conduct their due 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. Document page views are updated periodically throughout the day and are cumulative counts for this document. OFAC: Andrea Gacki, Director, tel. project, and how is this ownership structured? For complete information about, and access to, our official publications 886 conduct a cost-benefit analysis with regards to each proposed include documents scheduled for later issues, at the request persons individually or through amendment to the EAR that a license a party on the SSI List, it is important that companies engage in 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. Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. Below we describe some of the issues that 13,662, 79 Fed. of Ukraine. Lukoil chief says sanctions may last a decade | Financial Times From Rosneft to Gazprom and En+ Group, most significant London-listed firms potentially face sanctions. (last visited Aug. 31, 2018). Security, Regulations, Export Administration Regulations, Pt. "U.S. case-bycase basis. 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. Certain activities related to the Ukraine-/Russia-related Sanctionsmay be allowed if they are licensed by OFAC. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. How Russia's Lukoil survives sanctions and cheap crude 13 See CAATSA 225; Ukraine Freedom These program codes indicate how a true hit on a returned value should be treated. on based on Company C's listing on the SSI List? Part of Directive 4 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 . We need this to enable us to match you with other users from the same organisation.
