The U.S. Treasury Department has extended the validity of a license allowing operations to negotiate the sale of foreign assets to Russian oil company Lukoil, confirmed by data from the Office for Control of Foreign Assets (OFAC) on September 18.
The license temporarily removes restrictions related to the “sale, alienation or transfer” of Lukoil International GmbH and its associated assets.
Originally scheduled to expire on January 17, this permit has been repeatedly extended.
On October 22 last year, the U.S. Treasury Department imposed sanctions against Russian oil companies Rosneft and Lukoil, along with their 28 subsidiaries.
Later that month, Lukoil’s press service reported an agreement to sell 100% of LUKOIL International GmbH to international commodity trader Gunvor. However, on November 6 of the same year, Gunvor was barred by U.S. authorities from issuing a license and subsequently withdrew its offer for the assets.
Kremlin spokesman Dmitry Peskov stated on November 7 that measures taken by the United States and Britain were harmful to global trade, emphasizing Lukoil’s critical role in international markets.
