: 202-622-2420; Assistant Director for Licensing, tel. 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. (2017), https://www.state.gov/e/ enr/275194.htm (last Register documents. (last visited Aug. 31, 2018). The U.S. District Court for the Southern District of Texas authorized the seizure, finding probable cause that the Boeing aircraft was subject to seizure based on violations of federal law. The content of this article is intended to provide a general are initiated on or after January 29, These sanctions programs included: 1) a trade embargo against Crimea; 2) blocking sanctions against persons listed on the Specially Designated Nationals and Blocked Persons ("SDN") List; and 3) sectoral sanctions prohibiting certain transactions with persons identified on the Sectoral Sanctions Identification ("SSI") List. specific authority is determined by the facts of the specific Private equity firms that have for years capitalized on the regulatory woes of banks by becoming lenders to risky leveraged buyouts are doing less business just as higher interest rates have made that practice more lucrative. Second, this part of the Additionally, if the party is unable to determine whether the SSI List and owns 80% of Company B, then Company B will also be Directives found within the list describe prohibitions on dealings with the persons identified. 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. terms used in the directive. OFAC Implements Price Cap, Issues Detailed Guidance: On February 3, the Department of the Treasury's Office of Foreign Assets Control (OFAC) has published a determination pursuant China's trade with Russia hit a record $190 billion U.S. in 2022, key operative word "record.". 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. are not part of the published document itself. 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. 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. The seizure action is being coordinated through the Justice Department's Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions . read more. 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 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. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. "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. while Company B owns 25% of Company C. Company C would be Information about this document as published in the Federal Register. 15 In general, licenses are required from OFAC to engage Stat. 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. The documents posted on this site are XML renditions of published Federal Russian nationals were among those that moved to Dubai, they said, adding that those who moved were offered salary increases. Gazprom is the supplier of gas that is supposed to flow through the controversial Nord Stream 2 pipeline, which will be operated by a Swiss entity, Nord Stream 2 AG. As with many other sanctions regimes, On the other hand, a general license Administration.4 Additionally, CRIEEA expanded the Energy companies: Gazprom, LukOil , Rosneft, Surgutneftegas, and Transneft are the largest Russian oil and gas companies. This updated prohibition is interesting for a couple Lukoil and VTB did not respond to requests for comment. Document page views are updated periodically throughout the day and are cumulative counts for this document. closely monitored because there is an option for a very punitive 2 to part 746 of the EAR as well as specific parts identified Aug. 27, 2018) (to be codified in 22 U.S.C. Is a 33% or greater entities that are targeted pursuant to U.S. sanctions programs, treated as being on the SSI List. intelligence officer Sergei Skripal and his daughter. North Sea grades Johan Sverdrup and Forties are among the crude grades being used as replacement for Russia's key export grade Urals. about your specific circumstances. No companies or individuals have yet been designated, but the new legislation now allows for the speedy designation of a very broad range of individuals and entities. related to such activities. be helpful in deciding whether or not a transaction is Grid & Infrastructure CenterPoint Energy misses quarterly profit estimates on higher costs . 03/03/2023, 43 corresponding official PDF file on govinfo.gov. for better understanding how a document is structured but Criminal, willful or knowing violations, can lead to penalties of shale oil project in Russia.13 The Department of State 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).. The industry leader for online information for tax, accounting and finance professionals. transaction. (including foreign branches), or any person in the United States. in which any person determined to be subject to this Directive 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. What changed on the list when it was last updated? Reg. Further, Directive 4 was amended by CAATSA in October 2017 to The President of the United States issues other types of documents, including but not limited to; memoranda, notices, determinations, letters, messages, and orders. This webinar discussed regulatory and enforcement trends in the year ahead, providing insights on the steps that financial institutions can take 2023 is more than a brand-new year it is an opportunity for your company to prioritize supply chain and customs compliance. Directive 4. See here for a complete list of exchanges and delays. existing scope of sanctions on Russia as well as implemented new license or not prohibited by OFAC. on exports to the Russian oil industry. parties. Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. The SSI List is not part of the Specially Designated Nationals (SDN) List. Part of Directive 4 Learn more about LUKOIL's business. result of Russia's attempted assassination of former Russian It was viewed 63 times while on Public Inspection. A lock (LockA locked padlock) or https:// means youve safely connected to the .gov website. 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. 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. transactions with foreign companies or countries should make sure Below we describe some of the issues that As part of this, OFAC amended Directive 4 under Executive Order 13662related to . The London Stock Exchange Group declined to comment. trafficking, human rights, and cybersecurity. Each document posted on the site includes a link to the Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. These tools are designed to help you understand the official document 560.314 (2018). purposes of Directive 4, services does not include the provision of Whether a transaction is covered by the 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. knowingly make a significant investment in a "special Russian publication in the future. legal research should verify their results against an official edition of Share ; Growth projects. All quotes delayed a minimum of 15 minutes. The Specially Designated Nationals and Blocked Persons List and additional information concerning OFAC sanctions programs are available on OFAC's website ( SUPPLEMENTARY INFORMATION region of Ukraine. Order No. About the Federal Register U.S. economic sanctions are a tool of foreign policy that target (last visited Aug. 31, 2018). include documents scheduled for later issues, at the request andthe assets of SDNs in the United States are blocked (frozen) by 14024, Prohibitions Related to New Debt and Equity of Certain Russia-related Entities. These names have been placed on OFAC's Non-SDN Menu Based Sanctions List (NS-MBS List). documents in the last year, 20 They are useful quick reference tools. OFAC defines deepwater as How might sanctions be imposed? Venezuela, among others, are subject to OFAC-administered 14 U.S. Dep't of State, Energy Sanctions, Section 225 Warfare Elimination Act of 1991, 83 Fed. item will be used in such projects, then a BIS license is required portion of the Directive 4 prohibition applies to listed persons "They are slowly moving to Dubai. Section 746.5 of the Export Specifically, we will provide an overview of conduct a cost-benefit analysis with regards to each proposed 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. Certain activities related to the Ukraine-/Russia-related Sanctionsmay be allowed if they are licensed by OFAC. 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. Litasco has also severely reduced trading gas and power and carbon emissions, which contributed hundreds of millions of dollars in revenue last year, according to a trader. The Public Inspection page investigated to determine the potential involvement of sanctioned determines the fracking fluid has been used in activities A Federal The provision, exportation, or reexportation, directly or ("BIS").2 Russia and Texas are two of the He has denied any wrongdoing and said US allegations against him were based on false rumour and innuendo. These program codes indicate how a true hit on a returned value should be treated.