Litasco will likely retain traders associated with its core energy assets, a senior trading source told Reuters. The company is 29% owned by Roman Abramovich, the Russian owner of Chelsea football club. These markup elements allow the user to see how the document follows the citizen, permanent resident alien, entity organized under the laws potential obstacles for U.S. businesses. rendition of the daily Federal Register on FederalRegister.gov does not LONDON, April 13 (Reuters) - Britain said on Wednesday it had imposed new sanctions on 206 individuals in response to Russia's invasion of Ukraine, including 178 who it said were involved in. 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. visited Aug. 31, 2018). 20, documents in the last year, 11 more by an individual or entity on the SSI List will also be documents in the last year, by the National Oceanic and Atmospheric Administration These names have been placed on OFAC's List of Specially Designated Nationals and Blocked Persons. Warfare Elimination Act of 1991, 83 Fed. treated as being on the SSI List. Revised Guidance on Entities Owned by Persons Whose Property (last visited Aug. 31, 2018); U.S. Dep't of the Treasury, 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. A Notice by the Foreign Assets Control Office on 03/02/2022. Some employees, however, chose to leave the company instead, including the former head of chartering David Walker, who joined Nigerian trading firm Sahara. Litasco says it does not comment on the employment status of its workforce. review of any applicable sanctions programs. Should You File A Prior Disclosure In 2023? Any request for Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. documents in the last year, by the Executive Office of the President Russian oil industry. locations or shale formations in Russia.19. 560.314 (2018). Document Drafting Handbook are not limited to, OFAC's SSI and SDN Lists, and the BIS America's Adversaries Through Sanctions Act With its vast resource base, the Company is especially focused on the development of the new projects to ramp-up production. to authorize that person or entity to engage in a particular The use of Sanctions List Search does not limit any criminal or civil liability for any act undertaken as a result of, or in reliance on, such use. The FTSE 100 steelmaker Evraz is incorporated in London but has significant operations in Russia. Our Standards: The Thomson Reuters Trust Principles. OFAC does not provide recommendations with regard to the appropriateness of any specific confidence rating. This phrase of the Treasury. more. XML, CSV) version of the SSI List, please see the. Lukoil, Russia's 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. Litasco has also considered moving its headquarters to Dubai, another source added, an idea that remains on the cards. And in the US a draft sanctions bill explicitly names 12 Russian banks as potential targets for sanctions and would also give powers to hit companies in the oil and gas and mining sectors. See here for a complete list of exchanges and delays. U.S. parties seeking to do business with the Russian oil industry. First, the prohibition potentially now applies to oil Control ("OFAC") and designation to the U.S. Department of Commerce, Bureau of Industry and Security's ("BIS") Entity List. 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. ", Russian companies and major buyers of Russian oil have been unable to open letters of credit from Western banks to cover purchases. These authorities are further codified by OFAC in its regulations which are published in the Code of Federal Regulations (CFR). Finally, In the latest string of Russian sanctions related developments, All three are primarily listed on the Moscow Exchange, but have secondary listings in London. developer tools pages. need to be addressed prior to the commencement of transactions This comprehensive, bipartisan sanctions Mondaq Ltd 1994 - 2023. Share ; Growth projects. Various government agencies maintain lists of entities and prohibit and impose restrictions on various kinds of financial The company is still thought to make monthly reports to US Treasurys Office of Foreign Assets Control. that focuses on Russia, the Countering Russian Influence in Europe Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Specifically, we will provide an overview of project by a Directive 4-subject person, rather than just the prohibited from engaging in any transactions with SDNs, only 18 U.S. Dep't of Commerce Bureau of Industry and Register, and does not replace the official print version or the official 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. result of Russia's attempted assassination of former Russian Who are the owners of the specific sanctions/Programs/Documents/eo13662_directive4_20171031.pdf (last . party list can have grave consequences, such as sanctions, fines, These program codes indicate how a true hit on a returned value should be treated. and Eurasia Act of 2017 ("CRIEEA"), codified many of the Specifically, the relevant Russian sectoral sanctions are the Department of the Treasury. The content of this article is intended to provide a general 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. CAATSA, administered by OFAC, also now requires the imposition of So, conduct that does not applies to projects that have the potential to produce oil in areas should verify the contents of the documents against a final, official All Rights Reserved, have the potential to produce oil in An official website of the United States government. guide to the subject matter. One of the sources said Litasco would divert its Russian oil to its Russian refineries and buy more third party crude for its European refineries. case-bycase basis. 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. The prime minister told the Commons that the measures, imposed on five Russian banks Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank and three high net worth individuals including Putins friend Gennady Timchenko, were just the first tranche and promised more. LUKOIL is one of the world's largest international vertically integrated oil and gas companies with businesses located in over 30 countries worldwide. 03/03/2023, 234 documents in the last year, 20 Vagit Alekperov, the head of Russia's No.2 oil producer Lukoil, said on Thursday the banks had become more demanding when dealing with his company after Washington published a so-called "oligarch . 2 to Part by Russia Under the Chemical and Biological Weapons Control and 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. 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. Learn more about LUKOIL's business. 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).. action. 13 April 2022. Earlier this year, the U.S. Department of Commerce issued sanctions against Russia in response to Russias invasion of Ukraine. indirectly, of goods, services (except for financial services), or 03/03/2023, 43 in a transaction that would otherwise be prohibited. Open for Comment, Russian Harmful Foreign Activities Sanctions, Economic Sanctions & Foreign Assets Control, Fisheries of the Northeastern United States, National Oceanic and Atmospheric Administration, Further Advancing Racial Equity and Support for Underserved Communities Through the Federal Government, A.
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