U.S. Lifts Sanctions On Kazakhstan's Oil And Gas Projects

2025-11-15 01:06:56

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, November 15. The U.S. has lifted sanctions on the Caspian Pipeline Consortium (CPC), Tengizchevroil (TCO), and the Karachaganak oil field in Kazakhstan, tied to Russian energy giants Rosneft and Lukoil, Trend reports via the U.S. Office of Foreign Assets Control (OFAC).

The sanctions imposed in October on Rosneft, Lukoil, and their subsidiaries were partially relaxed through the issuance of General License No. 124B. This license permits U.S. companies to resume services and transactions related to these significant energy projects, though it specifically prohibits the sale or transfer of ownership stakes in any of the ventures.

Lukoil holds a 5 percent stake in the Tengizchevroil consortium and a 13.5 percent interest in the operator of the Karachaganak field, among other holdings. Rosneft, meanwhile, owns a 7.5 percent share in the Caspian Pipeline Consortium.

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