The US extended Lukoil’s opportunity to sell its overseas assets for the fifth time.

The U.S. continues sanction pressure on “Lukoil”, allowing international transactions until 2026

The U.S. Office of Foreign Assets Control (OFAC) extended the permission for certain transactions with Russia’s “Lukoil” until May 30, 2026, despite ongoing sanctions against Russia.

This move allows for certain financial operations with Lukoil International GmbH, providing for a controlled withdrawal of the company’s international assets. It is important to note that this is already the fifth occasion that the U.S. has extended such conditions for “Lukoil”. Previously, the deadline for such transactions was set to end on May 1.

According to government documents, these measures are aimed at severing the ties of international assets with “Lukoil” and preventing the company from gaining windfall profits due to the existing sanctions. The goal of these sanctions is to limit the Kremlin’s ability to finance its defense sector, including the war against Ukraine.

In the context of sanctions relief, Ukraine has repeatedly successfully struck Russian oil infrastructure in the Baltic and Black Sea regions, which has negatively impacted Moscow’s financial capabilities.

Despite these measures, the U.S. has repeatedly extended exemptions from sanctions, particularly for “Lukoil” foreign gas stations. Such decisions become part of the overall strategy of a managed withdrawal of Russia from international markets and pressure on its energy sector.