Overview
- The waiver authorizes transactions with Lukoil-branded stations outside Russia until April 29, 2026, according to the Treasury Department.
- Lukoil’s overseas retail network includes about 200 stations in New Jersey, Pennsylvania and New York, plus hundreds more in Turkey, Romania, Bulgaria and Moldova.
- The authorization is narrowly tailored to keep fuel flowing at foreign outlets while blocking revenue remittances to the sanctioned parent company.
- Lukoil and Rosneft were added to the U.S. SDN list in October, with counterparties initially given until November 21 to wind down dealings or face secondary sanctions.
- Finland’s Teboil chain, owned by Lukoil, has begun winding down as supplies tighten, and analysts report Indian refiners have curtailed purchases of Russian crude with flows forecast to drop in December and January.