Business · Companies · 17 hrs ago
UK extends licence for Lukoil’s Bulgarian businesses to February 2027
The UK has extended permission for dealings with four Lukoil businesses in Bulgaria until 26 February 2027.
The companies are Lukoil Bulgaria, the Burgas refinery, and Lukoil’s aviation and bunker fuel businesses.
The licence had been due to expire on 29 October 2026.
The UK imposed sanctions on Lukoil in October 2025, including asset freezes and restrictions on some services and transport.
The licence allows specified business dealings despite those restrictions, and the UK says the extension aligns its deadline with a US licence.
Lukoil has said it plans to sell its international assets, and talks with potential buyers are under way.
The extension keeps the permitted dealings in place until February 2027, while the company’s sale talks continue.
The UK has extended a licence allowing transactions with Lukoil’s Bulgarian subsidiaries until 26 February 2027.
The licence had been due to expire on 29 October 2026.
It covers Lukoil Bulgaria EOOD, Lukoil Neftochim Burgas AD, Lukoil Aviation Bulgaria EOOD and Lukoil Bunker Bulgaria EOOD.
The UK says the extension aligns the licence period with a US licence.
- Who
- The UK Treasury’s Office of Financial Sanctions Implementation (OFSI).
- What
- It extended a licence permitting transactions with four Lukoil subsidiaries in Bulgaria.
- When
- The extension was reported on 28 October 2026. The licence now runs until 26 February 2027.
- Where
- The affected businesses are in Bulgaria.
- Why
- To align the licence period with a US licence.
This story does not have two clearly opposing sides.
The UK added Lukoil to its sanctions list and set a deadline to complete transactions with the company.
OFSI issued a licence allowing business with the Bulgarian companies to continue until 14 February 2026.
The licence period was extended to 29 October 2026.
The UK extended the licence until 26 February 2027.
- New expiry
- 26 February 2027
- Previous expiry
- 29 October 2026
- Companies covered
- Lukoil Bulgaria EOOD; Lukoil Neftochim Burgas AD; Lukoil Aviation Bulgaria EOOD; Lukoil Bunker Bulgaria EOOD
- UK authority
- Office of Financial Sanctions Implementation (OFSI)