US extends deadline for Lukoil to sell its foreign assets

(MENAFN) The US Treasury Department has granted Russian energy giant Lukoil an additional 45 days to sell its assets outside Russia, part of Washington’s effort to curb Moscow’s revenue streams.

The Treasury’s Office of Foreign Assets Control issued General License 131B to allow the company more time for these divestments and to further restrict funding for Russia, as stated in a notice.

Authorities noted that Lukoil is actively seeking buyers not subject to sanctions and emphasized that the sales process will be closely monitored to ensure negotiations are conducted “in good faith.”

“Treasury will evaluate any proposed sale of Lukoil assets on factors that support US national security and foreign policy objectives,” the statement added.

The company was sanctioned on Oct. 22 under the direction of US President Donald Trump to intensify pressure on Russia’s energy sector.

Lukoil, the second-largest oil producer in Russia, has become a central focus of Western measures aimed at limiting Moscow’s financial resources for military operations. The US frequently updates its sanctions licenses to balance global market impacts while sustaining economic pressure on the Kremlin.

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