The US gives Lukoil more time. Gas stations still on licenses

On Tuesday, the US Office of Foreign Assets Control (OFAC) extended until October 29 the license exempting Lukoil gas stations outside Russia from sanctions imposed on the company. A similar exemption from sanctions was applied to Bulgarian subsidiaries of a Russian company.

Two licenses issued on Tuesday allow for the continued operation of Lukoil gas stations operated by Lukoil International GbmH, a company registered in Vienna, as well as four subsidiaries of the Russian concern in Bulgaria, including the refinery in Burgas. Previous exemptions expired in April.

In both cases, the sanctions relief was extended until October 29. In 2025, Lukoil International operated in 19 countries and had over 2,000 gas stations. About 200 of them are in the United States, in the states of New York, New Jersey and Pennsylvania.

The sanctions exemptions were intended to give more time to sell Lukoil's assets abroad. In both cases, the license terms were extended several times. The new documents ensure that the sanctions imposed last year on Russia's largest companies, Lukoil and Rosneft, will not take full effect for more than a year.

However, the exemption from sanctions for the sale of Russian crude oil loaded on tankers has not been renewed so far. That license, issued to lower the price of crude oil, expired on April 11 and has not been renewed. (PAP)

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