The U.S. administration has extended until August 22 the sanctions exemption allowing for the sale of Lukoil International GmbH (LIG), according to General License 131H released by the U.S. Department of the Treasury’s Office of Foreign Assets Control.
Meanwhile, the general license does not authorize the transfer of funds to any person or to any account in Russia, according to the document. The license also applies to firms in which LIG holds a stake of 50% or more.
Last October the U.S. Treasury Department included Lukoil and Rosneft, as well as 34 subsidiaries of those oil-producing companies, in a new package of US sanctions.
