site.btaUK Grants Temporary Licence Allowing Bulgaria to Continue Operating Lukoil Assets Despite Sanctions

The United Kingdom has issued a temporary general licence permitting the continued operation of Lukoil’s Bulgarian subsidiaries, allowing payments and business activities involving the companies to proceed despite UK sanctions against Russia.

The licence, issued by the Office of Financial Sanctions Implementation (OFSI) at HM Treasury, is dated November 14, 2025 and will remain valid until February 14, 2026. It is available on the UK government website.

The measure applies specifically to Lukoil Bulgaria EOOD and Lukoil Neftochim Burgas AD, along with any entities they own or control. The licence allows:

• Payments to or from the Lukoil Bulgaria entities under existing or new contracts;
• Payments between other persons under obligations or contracts connected to them;
• The provision or receipt of economic resources involving these entities.

UK financial institutions covered by the licence — including banks, payment service providers, electronic money institutions, clearing houses, and operators of recognized payment systems — are authorized to process such payments.

The licence applies only to the Russia sanctions regime and does not grant permission for activities that might breach other UK sanctions legislation, the document says.