The US has extended the validity of licenses for a portion of Lukoil’s foreign assets

Scope of the licenses

The US Department of the Treasury has extended until April 24, 2027, the validity of general licenses that authorize transactions related to a portion of the foreign assets of the sanctioned Russian oil company Lukoil. Formula writes that the authorization applies to Lukoil International GmbH and companies in which it owns a 50% or greater interest, including Lukoil North America LLC and Lukoil Americas Corporation. According to Radio Free Europe/Radio Liberty, the license means that the sanctions imposed by the US do not apply to these facilities. 1TV+2

Authorized operations and restrictions

According to 1tv, the licenses permit the purchase of fuel, technical maintenance, and operations necessary for the functioning of the stations, including the payment of salaries and rent. Formula notes that the document also provides for the possibility of using blocked accounts, but prohibits the transfer of funds to persons located in Russia. 1TV+1

Formula emphasizes that the license does not authorize all sanctioned operations and does not apply to transactions related to the Central Bank of Russia or the Ministry of Finance. According to 1tv, in October 2025, the US added Lukoil and Rosneft to the sanctions list, after which Lukoil began selling its foreign assets. According to Radio Free Europe/Radio Liberty, Lukoil owns gas stations in various countries around the world, including the US and Georgia. Formula+2