PRINT
1213. For the purposes of the determination of January 10, 2025 made pursuant to Executive Order (E.O.) 14024 (the "January 2025 Energy Sector Determination"), what is meant by the term "energy sector of the Russian Federation economy"?
On January 10, 2025, the Secretary of the Treasury, in consultation with the Secretary of State, issued a determination pursuant to E.O. 14024 that authorizes the imposition of economic sanctions on any person determined to operate or have operated in the energy sector of the Russian Federation economy. For purposes of the January 2025 Energy Sector Determination, OFAC anticipates publishing regulations defining the term "energy sector of the Russian Federation economy" to include activities such as the procurement, exploration, extraction, drilling, mining, harvesting, production, refinement, liquefaction, gasification, regasification, conversion, enrichment, fabrication, manufacturing, testing, financing, distribution, purchase or transport to, from, or involving the Russian Federation, of petroleum, including crude oil,...
Click the appropriate link below for access to this file.
Click the appropriate link below for access to this file.
1) See also FAQ # 1126 (all sectoral definitions defined). Compare 589.311; the RuHSR EO 14024 definition is much broader than URSR version, with “purchase” of energy products “involving” Russia included (among others).