[22], In 2005, Mikhail Khodorkovsky (former chairman of Menatep) and Platon Lebedev (business partner of Khodorkovsky) were sentenced to nine years in prison for fraud and tax evasion. Oil workers intend to participate in supporting natural environment of the park in future. Since 23 May 2012, former Deputy Prime Minister Igor Sechin became the company's CEO, succeeding Khudaninatov, who received the post of vice-president. In addition to it, the plant employees patronize the villages in Novokuibyshev suburbs. Nevertheless, the introduction of restrictive measures against its subsidiary can be seen as a signal from the US that sanctions against the Russian entity may be tightened. The government has now placed two Rosneft subsidiaries under the trusteeship of Germany's energy regulator, meaning that three critical refineries are now controlled by Germany. OFAC added 11 individuals and 15 entities to the SDN List pursuant to Executive Orders (EOs) 13660, 13661 and 13685. [25] In August, Bogdanchikov said that although the Yukos acquisitions had increased Rosnefts debt to $US26 billion, he planned to reduce debt to 30% of total assets by 2010 by tripling refining capacity and expand into China. She also advises clients on the extra-territorial application of trade compliance-related regulations in cross-border transactions. The Bundesnetzagentur (Federal . In 2011, according to a survey conducted by the Federal Service for Supervision in the Sphere of Nature Management (Rosprirodnadzor) in Khanty-Mansi Autonomous Okrug, Rosneft allowed 2,727 oil spills, which is 75% of the total number of spills that occurs under the company. 971 transformed Rosneft into an open joint stock company. Description Rosneft Oil Co is an integrated oil and gas company in which the Russian government is a majority shareholder. The Federal Ministry of Economics had classified the two Rosneft . Nayara, which is 49.13 per cent owned by Rosneft, operates a 20 million tonnes-a-year oil refinery at Vadinar in Gujarat and has a growing network of petrol pumps. Supporters of the bill demanded the prohibition of the development of the offshore shelf in Abkhazia for 30 years. The newly designated port or sea ferry operators are now also subject to an asset freeze, and US persons are prohibited from dealing with them, including participating in any way with offshore transactions involving the port and identified ferry operators. Headquarters Russia Address Sofiyskaya Naberezhnaya, 26/1, Moscow, 117997 Website www.rosneft.ru Telephone 7 499 5178899 No of Employees 334,600 Industry Energy and Utilities Ticker Symbol & Exchange ROSN (MCX) Revenue (2022) $118.9B 52.2% (2022 vs 2021) EPS XXX Net Income (2022) XXX 568.9% (2022 vs 2021) Under Directive 1, as amended, US persons are prohibited from transacting or dealing in new debt with a maturity of 30 days or new equity issued by an entity on the SSI List. In 2014, a debt of 3.5 billion rubles ($53.3 million) was added to the company's creditors demands list. [105], On February 18, 2020, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) added Rosneft Trading S.A., a Swiss subsidiary of Rosneft, and its president Didier Casimiro to the Specially Designated Nationals (SDN) list. For the fifteen Russian subsidiaries of Rosneft and energy sector entities added to the Entity List based on activities described in Executive Order 13662, the Entity List imposes a license Start Printed Page 52966 requirement for the export, reexport or transfers (in-country) of all items subject to the EAR to those companies when the exporter, After acquiring OJSC TNK-BP in 2013, then one of the largest oil companies of Russia, Rosneft became the world's largest publicly traded petroleum company. The Company's refineries in Russia refined 93.0 mmt in 2020. Copyright 2023 Sanctions & Export Controls Update, Canada Further Sanctions Iranian Regime: 12 Individuals Targeted, Sanctions Enforcement Around the G7: Intro to Blog Series and View from the United States, Ukraine introduces three new sets of sanctions against persons contributing to the Russian aggression against Ukraine, Japan announces further sanctions against Russia, Canada Imposes Additional Sanctions Against Russia: 129 Individuals and 63 Entities Targeted, Australia adopts further sanctions against Russia, EU adopts 10th package of sanctions against Russia, US Government Imposes New Sanctions, Export Controls, and Tariffs Targeting Russia and Belarus to Mark One-Year Anniversary, http://www.gpo.gov/fdsys/pkg/FR-2015-09-02/pdf/2015-21682.pdf, OFAC Issues Amended Russia-Related General Licenses and Related FAQs, US President Signs Two Bills with Implications for Sanctions, Export Controls, and Related Subjects, OFAC Designates Major Russian Financial Institutions and Issues New and Amended Russia-Related General Licenses; New FAQs, License requirement for all items subject to the EAR, License requirement for all items subject to the EAR when used in projects specified in EAR Part 746.5 (i.e., the Russian Industry Sector Sanctions). SSI Designations OFAC added 18 majority-owned subsidiaries of VEB and 17 majority-owned subsidiaries of Rosneft to the SSI List pursuant to EO 13662. OFAC added VEB and Rosneft to the SSI. See our previous advisories here and here for more details. Ulyukayev retorted that the "fabricated" accusations of bribery were "based solely on Sechin's claims," and that the whole exchange had been engineered by the Russian Federal Security Service, the successor of the KGB. Energy Information Administration (EIA). However, Rosneft refused to publish its information of top managers, citing that it is only applicable to "state companies (corporations) and other organizations created by federal laws," to which it does not believe itself to be. U.S. persons should be mindful of the relevant Ukraine-/Russia-related prohibitions that would be applicable as a result of dealings with both Rosneft Oil Company, Rosneft Trading S.A., and TNK Trading International S.A. See, generally,FAQs370-373, 391-396, 405-410, 412-421, and 536-538 for prohibitions on U.S. persons dealing with entities listed on the SSI List. The 15 parties subject to this license requirement are: Ms. Test advices clients on issues relating to licensing, regulatory interpretations, enforcement actions, internal investigations and compliance audits, as well as the design, implementation and administration of compliance programs. To access the full dataset and all other index resources, The company also accounts for 6% of global oil production. At the same time, Rosneft itself also purchases oil and gas from its subsidiary, Yuganskneftegaz, at transfer prices. visit. The announced amount could increase by another US$400 million if the global placement coordinators realize the option of buying another 53 million GDRs of Rosneft at the price of placement within 30 days. The 29 parties are located in the Crimea region of Ukraine, Cyprus, Finland, Romania, Romania, Russia, Switzerland, Ukraine, and the United Kingdom (British Virgin Islands). On December 15 2017, a Moscow court sentenced Alexei Ulyukayev, a former Russian economy minister to paying 130M ($2.2M) and eight years in a penal colony for bribery and corruption. [99][100] On February 24 2022, his son Ivan Sechin was also sanctioned by the U.S.[101] On February 28 2022, Igor Sechin was subjected to travel restrictions and had his assets frozen by the EU. The German government has placed German Rosneft subsidiariesRosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM)under fiduciary management. Rosneft's subsidiaries play an important role in Venezuela's oil sector. One hundred and forty-nine questions were asked for each assessment and for each Most of Rosneft's current assets were established during the Soviet era. For example, the following information can be obscured in order to evade or circumvent US sanctions involving Crimea: (i) originator or beneficiary address information from the Society for Worldwide Interbank Financial Telecommunications (SWIFT) messages involving persons or entities in Crimea; or (ii) references to Crimea in trade related documentations by, for example, listing Crimean counterparties as being located in Russia rather than in Ukraine. On February 18, 2020, OFAC designated Rosneft Trading, S.A. (Rosneft Trading), a subsidiary of Russia-based Open Joint-Stock Company Rosneft Oil Company (Rosneft Oil Company), and its president, Didier Casimiro, on the SDN List for brokering crude oil shipments from Venezuelaactivities that are restricted under E.O. 2. [52] The TNK-BP partners had previously signed a shareholding agreement which stipulated that their Russian joint venture would be the primary corporate vehicle for BP's oil and gas operations in Russia. The licensing requirements imposed by BIS on the 29 parties are as follows: BIS has imposed a license requirement on the export, reexport, or transfer (in-country) ofallitems subject to the EAR on 14 of the 29 parties added to the Entity List, with a presumption of denial. Rosneft Trading S.A. is a subsidiary of the Russian state-controlled global energy giant Rosneft Oil Company. [35] In June 2014, Rosneft extended the shelf study period to five years. In the first half of the 2000s, Sergei Bogdanchikov, then president of Rosneft, along with some journalists and experts, criticized Yukos and Sibneft for their use of hydraulic fracturing. Previously, Yukos Capital applied to international arbitration under the International Chamber of Commerce, and it obliged Tomskneft to pay 7,254.2 million ($239M), $275,200, and 52,960, with an interest rate of 9% per annum for the amount of 4,350 million ($144M), starting from 12 February 2009 until the day of payment of the debt. [43], On 2 October 2017, the PLA-linked CEFC China Energy[44] bought a $9 billion stake in Rosneft. Employees of Novokuibyshev Oils and Additives Plant took part in domestic garbage collection along the lake shore in [85], In October 2009, the Federal Antimonopoly Service (FAS) imposed on Rosneft a record fine of 5.3 billion ($175M) for violating anti-monopoly legislation. [97] In 2007, the company planned to perform hydraulic fracturing of the formation at 440 wells. Rosneft Oil Company / annual report 2006 Contents Chairman's Address 6 Example: List of subsidiaries of General Electric at SEC.gov. [6] Internationally, it is one of the largest oil companies, ranking 24 in terms of revenue. The main activities of JSC Samotlorneftegaz, which owns 9 license areas, are exploration and development of oil and gas fields, drilling of parametric, prospecting, exploration and production wells, production, preparation, processing, transportation and sale of hydrocarbon raw materials, development of oil and gas fields. The sanctions include a travel ban to the United States, freezing of all assets of Sechin in the United States and a ban on business transactions between American citizens and corporations and Sechin and businesses he owns. Rosneft was added to the SSI on July 16 2014, and was sanctioned by the EU on September 8 2014. See our previous advisory . a comprehensive measure of the quality of bp to exit Rosneft shareholding bp to exit Rosneft shareholding Release date: 27 February 2022 bp will exit its 19.75% shareholding in Rosneft. As a result, US companies as well as foreign companies conducting business in or through the United States may not realize that they are directly or indirectly engaging in a transaction involving an individual or entity in Crimea.
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