Treasury Slaps Sanctions on Two Russian Energy Giants
Published Date: 1/21/2026
Notice
Summary
The U.S. Treasury’s OFAC just blocked two Russian energy companies, LUKOIL PERM and LUKOIL AIK, stopping all U.S. dealings with them and freezing their U.S.-based assets. This move, effective October 22, 2025, aims to tighten the squeeze on Russia’s energy sector and warns others about secondary sanctions risks. If you’re a U.S. person or business, you better steer clear or face serious consequences!
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
U.S. persons: Transactions banned, assets frozen
On October 22, 2025, the Treasury’s Office of Foreign Assets Control (OFAC) added multiple Russian energy-sector entities to the Specially Designated Nationals (SDN) List. All property and interests in property subject to U.S. jurisdiction of those persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Secondary sanctions risk warned for counterparties
OFAC flagged that there is secondary sanctions risk under Section 11 of Executive Order 14024 and related directives for those who operate with the designated Russian energy entities. The notice warns other persons and businesses that dealing with these entities could expose them to secondary sanctions or other consequences.
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Key Dates
Department and Agencies
Related Federal Register Documents
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