When, in June 2000, Vladimir Putin became the President of Russia, he acted to gain control over Russia's oligarchs , and increase the Government of Russia's control in important companies through a program of national champions . [ 24 ] Putin fired Chernomyrdin from his position as the Chairman of the Gazprom board. The Russian Government's stock in Gazprom gave Putin the power to vote out Viakhirev. Chernomyrdin and Viakhirev were replaced by Dmitry Medvedev and Alexei Miller . They were Putin's prior employees in Saint Petersburg . [ 24 ] Putin's actions were aided by the shareholder activism of Hermitage Capital Management Chief Executive Officer William Browder , and the former Russian Finance Minister Boris Fyodorov . Miller and Medvedev were to stop asset stripping at Gazprom and to recover losses. Itera was denied access to Gazprom's pipelines and came close to bankruptcy . In 2006, Itera agreed to return stolen assets to Gazprom for a fee. [ 25 ] Browder was deported from Russia, in 2005, and the Russian arm of Hermitage Capital Management was seized two years later. [ 26 ] [ 27 ]
OFAC has explained in Frequently Asked Question (“FAQ”) guidance that it anticipates publishing regulations defining the term “energy sector of the Russian Federation economy” broadly 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, lease condensates, unfinished oils, natural gas, liquefied natural gas, natural gas liquids, or petroleum products, or other products capable of producing energy, such as coal, wood, or agricultural products used to manufacture biofuels; the development, production, testing, generation, transmission, financing, or exchange of power, through any means, including nuclear, electrical, thermal, and renewable, to, from, or involving the Russian Federation; and any related activities, including the provision or receipt of goods, services, or technology to, from, or involving the energy sector of the Russian Federation economy.” See FAQ 1213 .
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