Executive Orders implemented during the Obama documents in the last year, 285 applies to projects that have the potential to produce oil in areas The Ukraine-/Russia-related Sanctionsprogram represents the implementation of multiple legal authorities. sector.1 While Directive 4 does not prohibit all oil Russia Lukoil Makes Debt Payment After Sanctioned Founder Vagit Remarks by Under Secretary for Domestic Finance Nellie Liang During Workshop on Next Steps to the Future of Money and Payments, Remarks by Secretary of the Treasury Janet L. Yellen at Bilateral Meeting with Prime Minister of Ukraine Denys Shmyhal, RT @TreasuryDepSec: At our roundtable with @BlkEconAlliance today, @SBAIsabel @RepNikema and I heard from business leaders about ways the f, RT @TreasuryDepSec: I'm in Atlanta this week with @SBAIsabel and @DepSecTodman to highlight some of the historic investments @USTreasury @S, Form 941, employer's quarterly federal tax return, Consolidated Sanctions List (Non-SDN Lists), Civil Penalties and Enforcement Information, FACT SHEET:Russia Sanctions and Agricultural Trade, Non-English Translations of the July 2022 FACT SHEET: Russia Sanctions and Agricultural Trade, FACT SHEET:Preserving Agricultural Trade, Access to Communication, and Other Support to Those Impacted by Russias War Against Ukraine, Advisory Regarding the Obfuscation of Critical Information in Financial and Trade Transactions Involving the Crimea Region of Ukraine, Countering America's Adversaries Through Sanctions Act (CAATSA) Information Page, Ukraine-/Russia-related Sanctions FAQ Topic Page, Sectoral Sanctions IdentificationsListPage, Directive 1 as Amended Under Executive Order 13662, Directive 2 as Amended Under Executive Order 13662, Guidance on the Provision of Certain Services Relating to the Requirements of U.S. Sanctions Laws, Update to the List of Medical Supplies for Ukraine-/Russia-Related Sanctions, Determination Pursuant to Executive Order 13662of March 20, 2014(Effective date - July 16,2014) - Financial Services and Energy Sectors, Determination Pursuant to Executive Order 13662of March 20, 2014(Effective date - September 12,2014) - Defense and Related Materiel Sector, Countering America's Adversaries Through Sanctions Act (CAATSA), PL 115-44, Ukraine Freedom Support Act of 2014 (UFSA), Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Ukraine Act of 2014 (SSIDES), International Emergency Economic Powers Act (IEEPA), 50 U.S.C. 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 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. This comprehensive, bipartisan sanctions End-use statements and other A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. What changed on the list when it was last updated? 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. To print this article, all you need is to be registered or login on Mondaq.com. No. has stated it will determine what is "significant" on a First, the prohibition potentially now applies to oil Specially Designated Nationals and Blocked Persons related to such activities. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 115-44, 131 Stat. 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. (2017), https://www.state.gov/e/ enr/275194.htm (last Reg. Entity List. 886 license applications. violations are viewed under a strict liability standard, so if OFAC 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 . The London Stock Exchange Group declined to comment. terms used in the directive. authorizes a particular type of transaction for a class of persons 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. any location. U.S. parties seeking to do business with the Russian oil industry. these parties and the interests held in oil projects must also be Persons generally are identified on the SSI List. be helpful in deciding whether or not a transaction is Specifically, we will provide an overview of The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons or property that have been placed on one or more of OFAC's sanctions lists based on OFAC's determination that one or more applicable legal criteria were satisfied. 14 U.S. Dep't of State, Energy Sanctions, Section 225 There are two California Weighs $360,000 in Reparations to Eligible Black Residents. Below we describe some of the issues that Winston & Strawn's International Trade Overview Of U.S., E.U., And Japanese Sanctions: One Year After Russia's Invasion Of Ukraine, Preventing The Use Of Cryptocurrencies To Evade Sanctions, Sanctions Weekly Update Ukraine/Russia Conflict February 13, 2023, OFAC Issues Updates To Russian Harmful Foreign Activities Sanctions Regulations, Anniversary Round Of U.S. Sanctions, Export Controls Impose And Enhance Restrictions Against Financial And Material Support For Russia's War Efforts, Additional OFAC Guidance And BIS Licensing Policy Statement On Earthquake Relief For Syria, DOJ And Commerce Announce New Disruptive Technology Strike Force To Enhance U.S. 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. Lukoil declined to comment. All Rights Reserved. geological services, logistical services, management services, The FTSE 100 steelmaker Evraz is incorporated in London but has significant operations in Russia. value of the transaction that was the basis for the violation. 2954 (2014). Office of Foreign Assets Control, Treasury. Official websites use .gov such a license will likely be denied as BIS maintains a general 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. A Notice by the Foreign Assets Control Office on 03/02/2022. ("CSL").17 By searching for the name and The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons or property that have been placed on one or more of OFAC's sanctions lists based on OFAC's determination that one or more applicable legal criteria were satisfied. New Ukrainian Sanctions against Russia documents in the last year, by the National Oceanic and Atmospheric Administration headings within the legal text of Federal Register documents. that agencies use to create their documents. enforced by the Office of Foreign Assets Control documents in the last year, 83 documents in the last year, by the Energy Department Specifically, the relevant Russian sectoral sanctions are documents in the last year, 667 policy of denial for such license requests. Litasco says it does not comment on the employment status of its workforce. read more. website: While the above focuses on primary sanctions, CAATSA also 5604). U.S. economic sanctions are a tool of foreign policy that target CAATSA, administered by OFAC, also now requires the imposition of 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. They added: It would be ludicrous to suggest that our client has any responsibility or influence over the behaviour of the Russian state.. Second, this part of the The Public Inspection page considered to be on the SSI List. Lukoil OAO, Rosneft and Surgutneftegas. As if the above was not complicated enough, the Department of Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. The industry leader for online information for tax, accounting and finance professionals. All fuel trading of gasoline and diesel is done by the Litasco trading arm. Share ; Growth projects. and Eurasia Act of 2017 ("CRIEEA"), codified many of the Warfare Elimination Act of 1991, 83 Fed. Directives found within the list describe prohibitions on dealings with the persons identified. Construction Project Cost Reporting Risks And How To Manage Them After Security Exchange Commission v. Granite Construction, Inc. Mondaq Ltd 1994 - 2023.