The EU Caps Purchase Price of Russian Oil and Gas Products, Effective Fe...
The European Union has imposed a limited ban and a purchase price cap on the import and transport…
December 15, 2022, the OFAC has (i) updated SDN list and (ii) issued several General Licenses.
Among others, the updates list includes oligarch Vladimir Potanin and his family members were added to SDN OFAC list, thus introducing new wave of sanctions imposed towards Russian energy sector. Together with Vladimir Potanin, several of his companies (including INTERROS, ROSBANK) were also included in the list.
As for Norilsk Nickel (NORNICKEL), another company partly owned by Vladimir Potanin, there is an explicit OFAC guidance (FAQ # 1104) that NORNICKEL is not under sanctions.
Besides, OFAC issued a General License No. 8E in extension to authorized crucial energy-related transactions with SND sanctioned Russian banks, namely:
The General License No. 8E was issued until May 16, 2023 and renewed previous General License No. 8D dated November 10, 2022 that has not included ROSBANK.
 Updated SDN list is found at: https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20221215.
 General Licence No. 58 Authorizing the Wind Down and Rejections Involving Public Joint Stock Company Rosbank is found at: https://home.treasury.gov/system/files/126/russia_gl58.pdf.
 General Licence No. 59 Authorizing Transactions Related to Debt or Equity of, or Derivative Contracts Involving Public Joint Stock Company Rosbank is found at: https://home.treasury.gov/system/files/126/russia_gl59.pdf.
 General Licence No. 8E Authorizing Transactions Related to Energy is found at: https://home.treasury.gov/system/files/126/russia_gl8e.pdf.