License for sale of Lukoil's foreign assets extended

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has extended to October 22 the license authorizing negotiations and the entry into conditional agreements with Lukoil regarding the sale of Lukoil International GmbH, which holds the oil company's foreign assets, or any controlled entity.

However, any transactions remain subject to approval via separate OFAC authorization.

OFAC added Lukoil and several of its subsidiaries to the Specially Designated Nationals and Blocked Persons List in October, 2025.