By Jos Standerwick, CEO, Maritime London
 

Citing Russia’s “lack of serious commitment to a peace process to end the war in Ukraine” the US Treasury has announced the first set of Russia sanctions of the Trump administration.

The package has designated Rosneft and Lukoil pursuant to Executive Order E.O. 14024. As previously reported the UK sanctioned Rosneft and Lukoil on 15 October. Furthermore, the Rosneft and Lukoil subsidiaries listed below have also been designated:

· Lukoil subsidiary Limited Liability Company Lukoil Perm is involved in geological exploration and oil and gas production in Russia.

· Lukoil subsidiary Lukoil Aik A Limited Liability Company is involved in oil and gas production in Russia.

· Lukoil subsidiary Lukoil Kaliningradmorneft is developing onshore and offshore oil and gas fields in Russia.

· Lukoil subsidiary Lukoil West Siberia Limited is involved in oil and gas production in Russia.

· Lukoil subsidiary Russian Innovation Fuel and Energy Company is involved in the development, production, testing, and implementation of new technologies, techniques, and equipment for the development of hard-to-recover hydrocarbon reserves and enhanced oil recovery in Russia.

· Lukoil subsidiary Uraloil is developing oil and gas fields in Russia.

· Rosneft subsidiary Aktsionernoe Obshchestvo Kuibyshevskii Neftepererabatyvayushchii Zavod operates an oil refinery in Russia.

· Rosneft subsidiary AO Sibneftegaz is developing gas and gas condensate fields in Russia.

· Rosneft subsidiary Bashneft Dobycha is developing almost 200 hydrocarbon fields in Russia.

· Rosneft subsidiary CJSC Vankorneft is developing a large oil and gas field in Russia.

· Rosneft subsidiary Joint Stock Company East Siberian Oil and Gas Company is developing an oil and gas condensate field in Russia.

· Rosneft subsidiary Joint Stock Company Grozneftegaz produces oil and gas in Russia.

· Rosneft subsidiary Joint Stock Company Rospan International is developing oil and gas deposits in Russia.

· Rosneft subsidiary Joint Stock Company Ryazan Oil Refinery Company operates an oil refinery in Russia.

· Rosneft subsidiary Joint Stock Company Samaraneftegaz produces oil in Russia.

· Rosneft subsidiary Kharampurneftegaz is developing a gas field in Russia.

· Rosneft subsidiary Limited Liability Company Bashneft Polus explores, produces, and refines oil and oil products in Russia.

· Rosneft subsidiary Limited Liability Company Kynsko Chaselskoe Neftegaz manages oil and gas condensate fields in Russia.

· Rosneft subsidiary Limited Liability Company RN Purneftegaz is developing oil and gas fields in Russia.

· Rosneft subsidiary Limited Liability Company RN Tuapse Oil Refinery operates an oil refinery in Russia.

· Rosneft subsidiary Limited Liability Company RN-Krasnodarneftegaz produces oil and gas in Russia.

· Rosneft subsidiary OJSC Achinsk Refinery operates an oil refinery in Russia.

· Rosneft subsidiary OJSC Novokuybyshevsk Refinery operates an oil refinery in Russia.

· Rosneft subsidiary OJSC Orenburgneft produces oil and gas in Russia and operates a gas processing plant in Russia.

· Rosneft subsidiary OJSC Samotlorneftegaz is involved in the exploration and development of oil and gas fields in Russia.

· Rosneft subsidiary OJSC Syzran Refinery operates an oil refinery in Russia.

· Rosneft subsidiary PJSC Verkhnechonskneftegaz is developing a large oil and gas condensate field in Russia.

· Rosneft subsidiary Public Joint Stock Company Saratov Oil Refinery operates an oil refinery in Russia.

· Rosneft subsidiary Publichnoe Aktsionernoe Obschestvo Udmurtneft Imeni VI Kudinova produces oil in Russia.

· Rosneft subsidiary RN Komsomolskiy Refinery operates an oil refinery in Russia.

· Rosneft subsidiary RN Nyaganneftegaz is involved in crude oil production in Russia.

· Rosneft subsidiary RN Uvatneftegaz is developing almost 40 oil or oil and gas condensate fields in Russia.

· Rosneft subsidiary RN Yuganskneftegaz produces oil in Russia.

· Rosneft subsidiary Taas Yuryakh Neftegazodobycha is developing an oil and gas field in Russia.

It has already been reported that the US designations have led Indian and Chinese traders and refineries to pause purchases of Russian Oil in fear of exposure to US secondary sanctions.

Secretary of the Treasury Scott Bessent said: “Now is the time to stop the killing and for an immediate ceasefire…Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine. Treasury is prepared to take further action if necessary to support President Trump’s effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions.” A link to the full OFAC Press Release can be found here.

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