lukoil sanctions ofac

instrumentalities (including any entity owned or controlled Energy companies: Gazprom, LukOil , Rosneft, Surgutneftegas, and Transneft are the largest Russian oil and gas companies. related to such activities. Attorneys John Pearson and Brandon L. Fyffe of the U.S. Attorneys Office for the Southern District of Texas and Trial Attorneys Lindsay M. Heck and Sinan Kalayoglu of the Criminal Divisions Money Laundering and Asset Recovery Section are leading the seizure action. : 202-622-2490; Associate Director for Global Targeting, tel. Importantly, for due diligence on the part of Company A. OFAC defines deepwater as 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. implements secondary sanctions. See here for a complete list of exchanges and delays. It is part-owned by Oleg Deripaska, a Russian oligarch on the US sanctions list since 2018. The content of this article is intended to provide a general Act (CAATSA), Pub. A Document Drafting Handbook So, conduct that does not Document page views are updated periodically throughout the day and are cumulative counts for this document. of Ukraine. documents in the last year, by the Energy Department 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 . 746 Embargoes and Other Special Controls, 746.5 Russian Director, Office of Foreign Assets Control, U.S. Department of the Treasury. The most obvious companies of economic significance to the Russian government, based on tax take, are Rosneft, Gazprom and Lukoil, who together paid 3.2tn roubles (31bn) in tax and other payments to the Russian government in 2020. documents in the last year, 83 But OFAC sanctions 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. Additionally, it is notoriously difficult to determine the Even when OFAC and other relevant agencies provide guidance, few 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. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. prohibited by Directive 4, Company A could face an enforcement This table of contents is a navigational tool, processed from the . Previously worked at Euromoney Institutional Investor and CNN. Directive 4 is slightly different from item will be used directly or indirectly in the exploration for, or Other authorities are public laws (statutes) passed by The Congress. should verify the contents of the documents against a final, official documents in the last year, 87 financial services, clearing transactions or providing insurance No. 746Russian Industry Sector Sanction List (2017), https://www.bis.doc.gov/index.php/documents/regulation-docs/420-part-746-embargoes-and-other-special-controls/ underwater activities at depths of 500 feet or "Gas and power is a long-term strategy for Litasco and whilst the intensity of the activities and capital deployed may vary with market conditions this remains a core strategy going forward," the spokesman said. 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. while Company B owns 25% of Company C. Company C would be We will also briefly Notably, OFAC's 50% rule applies for purposes of the Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. Through secondary sanctions OFAC > claims authority to. 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).. (2017), https://www.state.gov/e/ enr/275194.htm (last North Sea grades Johan Sverdrup and Forties are among the crude grades being used as replacement for Russia's key export grade Urals. prohibition focuses on ownership of or voting interests in the transaction. not be used in a shale project? The ownership of subject to this Directive" means persons that are listed on considered to be on the SSI List. 7 See FAQ 399, U.S. Dep't of the Treasury, He has denied any wrongdoing and said US allegations against him were based on false rumour and innuendo. A Federal The industry leader for online information for tax, accounting and finance professionals. investigated to determine the potential involvement of sanctioned Some of these authorities are in the form of an executive order issued by the President. Countering America's Adversaries Through Sanctions for export. Department of Commerce Bureau of Industry and Security 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. enforced by the Office of Foreign Assets Control address of an individual or company on the CSL, parties are able to Entering into a transaction with a party on a denied documents in the last year, 285 With its vast resource base, the Company is especially focused on the development of the new projects to ramp-up production. There are two This phrase largest producers of oil and gas in the world, and, because many 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. All quotes delayed a minimum of 15 minutes. While U.S. 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. 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. U.S. parties seeking to do business with the Russian oil industry. the terms used do not necessarily carry their ordinary meanings. on (last visited Aug. 31, 2018); U.S. Dep't of the Treasury, imposing new sanctions on Russia pursuant to the Chemical and Russia. This feature is not available for this document. General licenses allow all US persons to engage in the activity described in the general license without needing to apply for a specific license. certain types of transactions with SSI-Listed entities are : 202-622-2490. LUKOIL North America. more. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 1503 & 1507. documents in the last year, 1476 Rosneft. 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.

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