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US sanctions two major Russian oil producers in latest crackdown

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US OFAC imposed sanctions against Gazprom Neft and Surgutneftegas as well as over 180 vessels that have shipped Russian oil; Gazpromneft Marine Bunker also mentioned.
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The US Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions against two of Russia’s most significant oil producers and exporters, Gazprom Neft and Surgutneftegas.

The actions are underpinned by the issuance of a new determination that authorises sanctions pursuant to Executive Order (E.O.) 14024 against persons operating or having operated in the energy sector of the Russian Federation economy.

Gazprom Neft is a Russia-based, vertically integrated oil company whose core activities include the exploration, production, and sale of oil while Surgutneftegas is a Russia-based, vertically integrated oil company whose core activities include the exploration, production, and sale of oil.

Alongside Gazprom Neft and Surgutneftegas, OFAC is designating more than two dozen Gazprom Neft and Surgutneftegas subsidiaries. 

All entities owned 50 percent or more, directly or indirectly, by Gazprom Neft, Surgutneftegas, or their subsidiaries listed, are also subject to blocking, even if not identified by OFAC.

OFAC also imposed sanctions on over 180 vessels that have shipped Russian oil. 

“Today’s actions also impose sanctions on an unprecedented number of oil-carrying vessels, many of which are part of the “shadow fleet,” opaque traders of Russian oil, Russia-based oilfield service providers, and Russian energy officials,” it said.

“Today’s actions are underpinned by the issuance of a new determination that authorizes sanctions pursuant to Executive Order (E.O.) 14024 against persons operating or having operated in the energy sector of the Russian Federation economy. These actions substantially increase the sanctions risks associated with the Russian oil trade.”

Russia-based fleet and bunker operator Gazpromneft Marine Bunker Limited Liability Company (Gazpromneft Marine Bunker), a Gazprom Neft subsidiary, is involved in the delivery of bunker fuel for vessels. 

OFAC also said Gazpromneft Marine Bunker is being designated pursuant to E.O. 14024 for operating or having operated in the energy sector of the Russian Federation economy and pursuant to E.O. 13662 for operating in the energy sector of the Russian Federation economy.

OFAC is also identifying the following vessels, all of which Gazpromneft Marine Bunker operates, pursuant to E.O. 14024 and E.O. 13662 as property in which Gazpromneft Marine Bunker has an interest:

  • Russia-flagged chemical/oil tanker GazpromneftZuid East (IMO 9537109)
  • Russia-flagged chemical/oil tanker GazpromneftNordwest (IMO 9590137)
  • Russia-flagged chemical/oil tanker Omsk (IMO 9418509)
  • Russia-flagged chemical/oil tanker Tymen (IMO 9422653)
  • Russia-flagged chemical/oil tanker Olanga (IMO 9286463)
  • Russia-flagged chemical/oil tanker Murmansk (IMO 9167930)
  • Russia-flagged chemical/oil tanker Dmitry Mendeleev (IMO 9888182)
  • Russia-flagged chemical/oil tanker Shturman Shcherbinin (IMO 9759927)
  • Russia-flagged chemical/oil tanker Shturman Koshelev (IMO 9759939)
  • Russia-flagged chemical/oil tanker Shturman Skuratov (IMO 9759915)

 

Photo credit: tommao wang on Unsplash
Published: 13 January, 2024

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