11 exploration well tests were completed with a success rate of 55%. Edward J. Krauland represents clients on matters involving US and multilateral economic sanctions, dual use, defense and nuclear export controls, anti-money laundering (AML) compliance, anti-boycott, Meredith Rathbone counsels clients in numerous countries on achieving their business goals while ensuring compliance with US export controls and economic sanctions laws administered by the Departments OFAC Adds Rosneft and VEB Subsidiaries to SSI List, Designates Russian SDNs, Advises on Evasion, Steptoe Receives 16 Practice, 40 Individual Mentions in, Four Steptoe Lawyers Named to Lawyers of Color Law Firm Leaders Issue 2022, Virtual Internet Law and Policy Roundtable, Steptoe Continues Energy Practice Dominance with Addition of Pipeline and Energy Partner Focused on Litigation and Regulatory Counseling, Steptoe Bolsters Government Affairs & Public Policy Practice with Addition of Partner and former Twitter Deputy General Counsel Tod Cohen, Steptoe Expands Commercial Litigation Practice with Addition of Three Nationally-Recognized Partners Focused on Advertising, Telemarketing, and Consumer Protection Law, Steptoe Named to WILEF 2022 Gold Standard Certification List, Steptoe Announces Partner and Counsel Promotions for January 1, 2023, Izhevsky Mekhanichesky Zavod JSC (aka Baikal), State Enterprise Kerch Sea Commercial Port, State Enterprise Sevastopol Sea Trading Port, State Enterprise Feodosia Sea Trading Port, State Enterprise Evpatoria Sea Commercial Port, Development Corporation of North Caucus OJSC, Russian Export-Import Bank (EXIM Bank of Russia), Far East and Baikal Region Development Fund OJSC, Russian Direct Investment Fund Management Company. Besides, Ryazan Oil Refinery has been taking part in domestic garbage collection and green planting organization on city centre streets for 12 years. 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. [40], On 7 December 2016, Rosneft signed a deal to sell 19.5% of the outstanding shares, or roughly US$11 billion, to the Anglo-Swiss multinational commodity trader Glencore and the Qatar Investment Authority. At least 13 flights went. 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. [66], The Trump administration expanded further sanctions on its Swiss-incorporated company (Rosneft Trading S.A.) and its president Didier Casimiro on 18 February 2020, for supporting Venezuela's Nicols Maduro regime by operating in the oil sector of the Venezuelan economy. [95] Often blamed is Rosneft's ageing infrastructure, so is the lack of government oversight. Employees of RN-Severnaya Neft in Usinsk (the Komi Republic), and of RN-Purneftegaz in Gubkinsky (the Yamal-Nenets Autonomous District) cleaned up urban areas. . In addition to it, the plant employees patronize the villages in Novokuibyshev suburbs. [106], As of 1 May 2014, the heads of Russian state corporations would provide information about their incomes and property to the Russian government to correspond to the presidential decree Anti-Corruption Issues, which was published on 8 July 2013. Similar events have been also organized in other Rosneft subsidiaries. The owners are opposing this in court. [77][78] In August 2021 Igor Sechin increased his own share at Rosneft from 0.1273% up to 0.1288%. In this case, sanctions are likely to cause more serious damage to the Russian company. [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. US Government Adds Rosneft's Swiss Subsidiary to the SDN List under Venezuela-related Sanctions Program - Sanctions & Export Controls Update US Government Adds Rosneft's Swiss Subsidiary to the SDN List under Venezuela-related Sanctions Program February 24, 2020 By Andrea Tovar, Eunkyung Kim Shin and Paul Amberg 4 Mins Read Federal representatives countered that the measure was legal. On February 18, 2020, OFAC designated Rosneft Trading S.A. pursuant to E.O. 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. On July 30, 2015, OFAC added 11 individuals and 15 entities in Russia and Ukraine to its Specially Designated Nationals and Blocked Persons List (SDN List). 'Russian oil'). [79], Members of the board of directors (as of June 2022):[80], In 2011, according to Rosneft, the company had donated $422 million to charity, 4 times than the previous year, becoming the leading Russian company devoted to philanthropy that year. bp will no longer report reserves, production or profit for Rosneft. Rosneft is also among the largest natural gas producers in Russia, with a total gas production of 12.3billion cubic metres (1.231010 cubic metres) in 2010. 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. At the same time, the composition of the beneficiaries were not disclosed as it was known that the oil company had previously committed to pay $180 million for the right to be the general sponsor of the 2014 Winter Olympics in Sochi. The German government has placed German Rosneft subsidiariesRosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM)under fiduciary management. 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Yellen at Bilateral Meeting with Prime Minister of Ukraine Denys Shmyhal, Remarks by Secretary of the Treasury Janet L. Yellen at Wreath Laying Ceremony in Kyiv, Ukraine, 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, Office of Foreign Assets Control - Sanctions Programs and Information, Specially Designated Nationals And Blocked Persons List (SDN), Civil Penalties and Enforcement Information, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. In July, the Russian government announced that information of the income of top management of companies listed in Government Decree No. [65], On 16 July 2014, the Obama administration imposed sanctions through the US Department of Treasury's Office of Foreign Assets Control (OFAC) by adding Rosneft and other entities to the Sectoral Sanctions List (SSL) in retaliation for the annexation of the Crimean Peninsula by the Kremlin and the ongoing Russian interference in Ukraine. As of year-end 2010, Rosneft's total proved oil and gas reserves under PRMS classification were 22.8 billion barrels (3.62billion cubic metres) of oil equivalent, among the highest for a publicly traded petroleum company worldwide. The 14 parties subject to this license requirement are: 1) Private Joint-Stock Company Mako Holding; 2) Airfix Aviation Oy 3) IPP Oil Products (Cyprus) Limited 4) Open Joint Stock Company Kontsern Izhmash 5) Izhevsky Mekhanichesky Zavod JSC 6) Set Petrochemicals Oy 7) Southeast Trading Oy 8) Southport Management Services Limited [29], Rosneft announced a placement value of US$5.857.85 per share and global depository receipt (GDR), based on the company's capitalization after consolidation of US$6080 billion. Persons on the SSI List, unlike those on the SDN List, do not face an asset freeze and US persons are not prohibited strictly from dealing with them. [48], On 15 January 2011, Rosneft and British Petroleum (BP) announced a deal to develop the East-Prinovozemelsky field on the Russian arctic shelf between the Yamal Peninsula and Novaya Zemlya island. Irish crew transfer vessel (CTV) owner and operator Farra Marine has expanded its fleet of CTVs after ordering another seven, Since Russias invasion of Ukraine a year ago, most of the fighting has been on land. We do this through technical advice, advocacy, applied research, policy analysis, and capacity development. OFAC identified certain practices from the financial and international trade sectors that are intended to omit or obfuscate references to Crimea and locations within Crimea. The company has surprised many in overcoming these constraints and by aggressively expanding its international business. E-Mail: info@rosneft.de Press Contact. In 2016, the total incremental 4.8billion cubic metres (4.8109 cubic metres) of gas. March 28, 2020. Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week. [21] According to some estimates,[who?] [8], In March 1996, Rosneft founded the Russian Regional Development Bank. Rosneft undertook exploration on the shelf in the Ochamchira area, discovering preliminary reserves estimated at 200 million to 500 million tons of oil equivalent. Note that the license requirement applies toallitems subject to the EAR and not only to the items specified in Part 746.5(a). [45], On 26 September 2017, the Russian government controversially approved the former German chancellor Gerhard Schrder as chairman of Rosneft. Rosneft is the largest refining company in the Russian Federation. 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. The replacement factor for new reserves has been significantly above 100% for over ten years. The cooperation with the park started back in 2010, when oil workers helped to backfill tourist trails, paint summerhouses and benches. See our previous advisories on these EOs here and here. Subscribe to Maritime Reporter Email News. The three German refineries in which Rosneft Deutschland GmbH has a stake are among the most technically advanced facilities in Western Europe. Ulyukayev was seen as an economic liberal, Igor Sechin is viewed as a hawk, who supports greater state control over the economy. 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 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. At the oral hearing, Rosneft's lawyers requested that the trusteeship of the subsidiaries Rosneft Germany and RN Refining & Marketing, which had been ordered in September, be lifted. The first use of the name Rosneft dates back to the late 19th century, when exploration of oil fields in Sakhalin began in 1889. 13850. "[31][32], Rosneft's IPO became the largest in the history of Russia and the fifth in the world in terms of the amount of money raised at the time. 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) Are likely to cause more serious damage to the rosneft subsidiaries list List pursuant to EO 13662 Schrder! Increased his own share at Rosneft from 0.1273 % up to 0.1288 %,... 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