Overview
- The Treasury’s general license permits purchases, technical maintenance, operation and decommissioning of Lukoil’s physical gas stations located outside Russia.
- The authorization applies to dealings with Lukoil-International and its subsidiaries, including activities carried out in the United States.
- The license runs through April 29, 2026, providing a time-limited pathway for routine servicing or safe shutdowns of affected assets.
- Core sanctions on Lukoil and Rosneft announced in late October remain in effect, and broader asset transfers are not covered.
- Lukoil has been seeking buyers for overseas assets after a proposed sale to trader Gunvor collapsed when the buyer could not secure a required U.S. license, while Serbia’s president said 112 Lukoil stations in the country can continue operating and source fuel from third parties.