Business · Energy & Commodities · 10 hrs ago
US extends Lukoil sanctions waiver until April 2027
The US Treasury extended a waiver for Lukoil on Thursday, allowing some of the Russian oil company’s activities outside Russia to continue until April 2027.
The permission covers operating, maintaining or closing Lukoil’s petrol stations abroad, including stations in the United States.
It replaces a licence due to expire in October 2026, though the sources give different end dates for the new permission: April 24 and April 25, 2027.
The licence bars transfers of funds to people or accounts in Russia and excludes dealings with several Russian government financial bodies.
The US first sanctioned Lukoil and its subsidiaries in 2025, then allowed limited station-related activity under temporary licences.
The extension comes amid high fuel prices and disrupted oil supplies, linked in the article to the Iran war and reduced tanker traffic through the Strait of Hormuz.
The Treasury has also separately authorised certain transactions involving Lukoil Bulgaria’s companies, and the station waiver remains in place until its April 2027 expiry.
The US extended a sanctions waiver allowing certain operations at Lukoil petrol stations outside Russia to continue until April 2027.
The new general licence permits the stations to operate, be maintained or be closed, and allows ordinary and necessary transactions related to them.
The licence bars transfers of funds to people or accounts in Russia and excludes transactions involving Russia’s central bank, national wealth fund and Ministry of Finance.
The Treasury Department also authorised certain transactions for Lukoil Bulgaria firms over the same period.
The extension followed an announcement by US President Donald Trump that Russia would supply diesel to the US and global markets.
- Who
- The US Treasury Department extended the waiver for Russian oil company Lukoil.
- What
- It authorised certain transactions related to Lukoil petrol stations outside Russia until April 2027.
- When
- Announced on October 15, 2026. The sources give April 24 and April 25, 2027, as the end date.
- Where
- Lukoil petrol stations outside Russia, including stations in the US.
- Why
- To allow certain operations and transactions involving the stations to continue despite sanctions.
This story does not have two clearly opposing sides.
The US placed Rosneft, Lukoil and their subsidiaries on its sanctions list.
The Treasury Department issued its first general licence exempting certain operations at Lukoil petrol stations outside Russia from sanctions.
A further general licence extended the permission until October 29, 2026.
Trump said he had reached an agreement with Putin for Russia to supply diesel to the US and global markets.
The US announced a new waiver for certain Lukoil-related transactions through April 2027.
- Company
- Lukoil
- New licence announced
- October 15, 2026
- Expiry date
- April 24, 2027, according to Bloomberg HT; April 25, 2027, according to The National
- Prior licence expiry
- October 29, 2026
- US agency
- Treasury Department’s Office of Foreign Assets Control
3 sources
What people are saying
As the remaining buffers in the system continue to erode, in the absence of a resolution to the conflicts in the Middle East, oil markets may experience more turmoil in the months ahead before any eventual surplus emerges in 2027