US partially lifts sanctions on Russian giant Lukoil. The exemption is valid for almost five months

The US government announced on Thursday that it is suspending part of the sanctions imposed on the Russian oil giant Lukoil, to allow the company's gas stations located outside Russia to continue to operate, reports AFP.

Transactions involving these gas stations were authorized “to avoid penalizing” their customers and suppliers, provided the proceeds were not transferred to Russia, according to the US Treasury.

The measure allows Lukoil-branded gas stations in countries such as the United States to continue serving customers while preventing the flow of money to Russia, which is under severe US and EU sanctions following its February 2022 invasion of Ukraine.

The exemption is valid until April 29, 2026.

In late October, to put pressure on Russia, which is at war with Ukraine, the Trump administration included Russia's two largest oil producers, Lukoil and Rosneft, on the “blacklist” of sanctioned entities, a register respected by many countries and feared in the business world.

The sanctions imposed by Trump went into effect on November 21.

Companies working with Russian entities risk secondary sanctions, which would deny them access to American banks, traders, carriers and insurers, which form the backbone of the commodities market.

The US Treasury's announcement comes two days after a meeting in Moscow between Russian President Vladimir Putin and President Donald Trump's emissary, Steve Witkoff.

The government in Washington is trying to negotiate an end to the war in Ukraine, but its European allies accuse it of favoring Moscow's demands.

Last month, Europe's top diplomat expressed fears that Russia could use US proposals to end the war in Ukraine to delay US sanctions.