The US Treasury Department's Office of Foreign Assets Control (OFAC) has extended a general license allowing certain transactions related to Lukoil's foreign assets. The new authorization remains valid until June 27, 2026.

The license permits negotiations, agreement on terms, and signing of contracts concerning the potential sale of Lukoil's international division, Lukoil International GmbH, as well as related technical and administrative operations.

However, the US regulator emphasizes that any execution of contracts requires separate OFAC approval. According to the document, "Operations must be authorized by 12:01 a.m. Eastern Daylight Time on June 27, 2026, subject to separate OFAC authorization."

The authorization applies exclusively to the company's foreign assets and does not lift existing sanctions restrictions. In October 2025, the US Treasury included Lukoil, Rosneft, and 34 of their subsidiaries in a new sanctions package. Since then, OFAC has repeatedly extended licenses allowing negotiations and preparation for the sale of Lukoil's foreign assets.

Source: kun.uz