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Lukoil
In a fifth waiver extension of targeted sanctions, the U.S.
Treasury Department has given Russia’s Lukoil
until May 30 to negotiate a sale of its foreign assets, Interfax-Ukraine news
agency reported on April 29.
Any transaction would still require separate OFAC (Office of Foreign Assets Control) approval.
On Oct. 22, 2025, the United States announced new sanctions that targeted Russia’s largest oil producers, Rosneft and Lukoil. After the sanctions were imposed, Lukoil announced plans to sell its overseas assets. The company accepted a buyout offer from the international commodities trader Gunvor and had agreed key terms, but the U.S. Treasury did not approve that deal.
At the end of January 2026, Lukoil reached an agreement with the U.S. investment firm Carlyle to sell its holdings. That sale is awaiting OFAC approval.
Transactions involving Lukoil’s foreign gas-station networks
and its Bulgarian assets were separately extended until Oct. 29, 2026.
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