site.btaUnited States Extends Lukoil Foreign Asset License

Washington has extended the license for the sale of foreign assets of Russian oil giant Lukoil until 12:01 a.m. US eastern standard time on February 28, 2026, according to an official document dated January 14, published by the US Treasury Department’s Office of Foreign Assets Control (OFAC).

The license permits operations related to negotiations for “the sale, disposition, or transfer” of Lukoil International GmbH (Lukoil’s Austria-based subsidiary, which holds the group’s foreign assets, including those in Bulgaria), and its assets. The current license was due to expire on January 17.

In October 2025, the US Treasury included Lukoil and Rosneft, along with 34 of their subsidiaries, in a new package of American sanctions. On December 4, the Treasury authorized operations to purchase goods and services at Lukoil facilities outside Russia until April 29, 2026. Previously, this license had been extended to December 13.

In the January 14 announcement of the extension of Lukoil's foreign assets sales license, OFAC explicitly stated that the extended license does not permit the transfer of funds to any person or account located in the Russian Federation.