The U.S. has extended the deadline for Lukoil to sell its overseas assets

The U.S. Department of the Treasury has once again extended the license allowing the sale of foreign assets belonging to the Russian oil company Lukoil. According to a document from the Office of Foreign Assets Control (OFAC), all transactions must now be completed by July 25.

The previous license was valid until June 27.

The license in question allows for negotiations regarding the “sale, disposal, or transfer” of 100% of LUKOIL’s subsidiary, LUKOIL International GmbH, which owns the Russian oil company’s overseas assets. Washington issued the license, which permits negotiations and other transactions related to its sale, last October—after Lukoil was added to U.S. “blacklists.” After coming under U.S. sanctions, the Russian oil company announced its readiness to sell its overseas assets.

In January, Lukoil announced that it had entered into a preliminary agreement to sell LUKOIL International GmbH (excluding projects in Kazakhstan). The buyer is the American investment firm Carlyle. The deal now requires approval from the U.S. Department of the Treasury. OnInvest has learned that Carlyle has extensive connections in U.S. political circles. Read more about the potential buyer of Lukoil’s foreign assets here:

This article was AI-translated and verified by a human editor