U.S. Authorizes Preparations for Sale of Lukoil’s International Division Under New License Through 2026.

U.S. Sanctions Policy Update

According to TSN.ua: The U.S. Department of the Treasury has revised its sanctions framework, granting permission for preparatory steps toward the sale of the international arm of the Russian company Lukoil. This authorization comes under the newly issued General License No. 131D from the Office of Foreign Assets Control (OFAC), which remains valid until May 1, 2026. The license was signed by OFAC Director Bradley T. Smith on March 30.

Conditions for Deal-Making

The published document allows for agreements to sell Lukoil International GmbH or its subsidiaries. However, finalizing any sale agreements requires a separate, specific authorization from OFAC. This regulatory update marks a significant milestone for Lukoil, which first announced its intention to divest its overseas assets back in October 2022.

It is worth noting that in December 2022, the U.S. Treasury had already extended a previous license until April 29, 2026. Now, with these new terms in place, the company can more actively pursue its divestment plans.

This adjustment to U.S. sanctions policy reflects Washington’s evolving approach amid shifting global economic dynamics and its ongoing efforts to influence Russian-linked international business operations. By allowing Lukoil to prepare for asset sales, the move underscores the company’s drive to reduce its international exposure and adapt to market pressures. It could also open doors for potential investors and reshape the regional energy landscape.