The U.S. Department of the Treasury has issued a license for transactions for the sale of Lukoil's foreign assets until May 30, 2026, according to a statement by the Department of the Treasury’s Office of Foreign Assets Control (OFAC).
The license was initially valid until January 17, and was then extended several times, most recently until May 1.
The license permits transactions related to negotiations regarding the sale, alienation, or transfer of Lukoil International GmbH and its assets. It also prohibits the transfer of any funds to individuals in Russia or to Russian accounts.
In October, the U.S. Department of the Treasury included oil producing companies Lukoil and Rosneft, as well as 34 subsidiaries of those firms, in a new package of U.S. sanctions. OFAC subsequently issued and renewed several times a license to negotiate the sale of the company's assets.
