site.btaUS Treasury Issues Licence Allowing Transactions with Certain Lukoil Entities in Bulgaria

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) said on its website on Friday that it had issued General License No. 130 Authorizing Transactions Involving Certain Lukoil Entities in Bulgaria.

The licence is dated November 14, 2025 and will remain valid until April 29, 2026. It is available on the Department of the Treasury website.

The licence authorizes all transactions involving the following entities:

(1) Lukoil Neftohim Burgas JSC;
(2) Lukoil Bulgaria EOOD;
(3) Lukoil Aviation Bulgaria EOOD;
(4) Lukoil Bulgaria Bunker EOOD; or
(5) Any entity in which one or more of the above persons own, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest.

This general licence does not authorize any transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, including any other blocked affiliates of Public Joint-Stock Company Oil Company Lukoil, other than the blocked persons above, unless separately authorized.

Earlier in the day, Britain granted a temporary 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, will remain valid until February 14, 2026.