The U.S. Department of the Treasury has extended until April 24, 2027, the authorization to conduct transactions involving the foreign assets of the Russian oil company "Lukoil." The decision concerns a network of gas stations and enterprises in Bulgaria that came under U.S. sanctions. This is evidenced by documents from the U.S. Treasury’s Office of Foreign Assets Control (OFAC), reports UNN.
Details
The new general licenses authorize transactions involving foreign gas stations associated with Lukoil International GmbH, as well as a number of Bulgarian subsidiaries of the Russian oil giant.
In particular, the authorization applies to Lukoil Neftohim Burgas, Lukoil Bulgaria, Lukoil Aviation Bulgaria, and Lukoil Bulgaria Bunker. At the same time, the decision does not mean a complete lifting of sanctions against "Lukoil."
Why the U.S. extended the authorizations for the Russian company
The previous license for transactions involving foreign gas stations was valid until October 29, 2026. The U.S. Treasury has now extended its term by nearly six months.
The U.S. imposed sanctions on "Lukoil" on October 22, 2025. After that, the Russian company announced its intention to sell its foreign business.
To carry out such a deal, OFAC issued a separate license, the validity of which U.S. authorities have already extended repeatedly. The previous authorization to sell the assets was valid until October 22, 2026.
Thus, Washington is maintaining sanctions against the Russian company while at the same time permitting certain transactions involving its foreign assets.