According to the issued license, the sanctions imposed on Lukoil in 2025 do not cover transactions needed to negotiate and conclude agreements related to the sale of Lukoil International, registered in Vienna. The Department has extended this entity's exemption from restrictions for the fifth time. The current license is valid until the end of May 2026.
The United States imposed restrictions on a Russian oil company in response to Russia's actions in the international arena. The extension of the exemption period is intended to give time to find a buyer who meets the requirements of the American authorities. Without a buyer approved by Washington, the assets could be frozen.
See also: Russian ghost ships spotted in the Atlantic. This is their possible target
Lukoil International avoids US sanctions. They are looking for a buyer
Shortly after the restrictions on Lukoil were introduced, Gunvor, a company associated with the Russian oligarch Gennady Timchenko and registered in Cyprus, expressed its intention to take over Lukoil International. However, the US Treasury Department blocked this transaction. Last week, Reuters reported that Austrian businessman Bernd Bergmair, previously the main shareholder of MindGeek, which manages many of the largest pornographic portals, is preparing to buy it.
Read also: Iran sets conditions for opening the Strait of Hormuz. Trump has no intention of relenting
Other entities have also expressed interest in acquiring the foreign assets of the Russian giant. According to the Wall Street Journal, potential buyers included ExxonMobil and American billionaire Todd Boehly, co-owner of Chelsea, Los Angeles Lakers and Los Angeles Dodgers. However, the company has not found a buyer yet.
