GL-124B
ActiveAuthorizing Petroleum Services and Other Transactions Related to the Caspian Pipeline Consortium, Tengizchevroil, and Karachaganak Projects
Machine-extracted. The summary, conditions, and reporting fields on this page were extracted by AI from the official document. Rely on the official OFAC General License, not this page.
Summary
General License No. 124B authorizes transactions related to the operation of the Caspian Pipeline Consortium, Tengizchevroil, and Karachaganak projects that would otherwise be prohibited by the January 10, 2025 Prohibition on Petroleum Services determination under E.O. 14071. It also authorizes transactions prohibited by E.O. 14024 involving blocked persons Rosneft Oil Company, Public Joint-Stock Company Oil Company Lukoil, and any entity 50% or more owned by either, when those transactions are related to the operation of the three named projects. Transactions for the sale, disposition, or transfer of any interest in those projects are not authorized, nor are transactions involving other blocked persons under the Russian Harmful Foreign Activities Sanctions Regulations unless separately authorized. This license replaces and supersedes General License No. 124A, dated October 22, 2025.
Authorized activities
- All transactions prohibited by the January 10, 2025 Prohibition on Petroleum Services determination (E.O. 14071, section 1(a)(ii)) related to the operation of the Caspian Pipeline Consortium, Tengizchevroil, or Karachaganak projects
- All transactions prohibited by E.O. 14024 involving Rosneft Oil Company that are related to the operation of the Caspian Pipeline Consortium, Tengizchevroil, or Karachaganak projects
- All transactions prohibited by E.O. 14024 involving Public Joint-Stock Company Oil Company Lukoil that are related to the operation of the Caspian Pipeline Consortium, Tengizchevroil, or Karachaganak projects
- All transactions prohibited by E.O. 14024 involving any entity 50% or more owned (directly or indirectly, individually or in aggregate) by Rosneft or Lukoil that are related to the operation of the Caspian Pipeline Consortium, Tengizchevroil, or Karachaganak projects
Conditions
The license does not authorize: (1) any transactions for the sale, disposition, or transfer of any interest in the Caspian Pipeline Consortium, Tengizchevroil, or Karachaganak projects; or (2) any transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), including transactions involving any person blocked pursuant to the RuHSR other than Rosneft Oil Company, Public Joint-Stock Company Oil Company Lukoil, or entities 50%+ owned by either, unless separately authorized.