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US extends permission for Lukoil’s overseas service stations

The US Treasury renewed permissions for Lukoil-linked service stations outside Russia and specified Bulgarian companies on 15 October. Two general licences run through 24 April 2027, covering defined operations while retaining restrictions on transfers to Russia. The station permission includes routine operations and wind-down transactions; the Bulgarian authorization covers a separately named group of companies.

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A grey car beside fuel-pump hoses under a station canopy, with a small service building behind.

Overseas retail operations retain a US licence

The US Treasury extended a sanctions permission for service stations linked to Russian oil company Lukoil outside Russia on 15 October. Its Office of Foreign Assets Control (OFAC), the agency administering US sanctions, renewed authorization for transactions ordinarily necessary to operate those stations or wind down their activities. The permission includes using previously blocked accounts to fund routine operations, while barring transfers to persons or accounts in Russia.[1], [2]

General License 128D covers physical retail stations involving Lukoil International GmbH and entities it owns directly or indirectly by at least 50 per cent. Lukoil North America LLC and Lukoil Americas Corporation are expressly included. The authorization covers purchases of goods and services from the stations, maintenance, operation and wind-down where necessary for those activities.[1]

Bulgarian companies receive a separate authorization

A second authorization, General License 130B, covers Lukoil Neftohim Burgas JSC, Lukoil Bulgaria EOOD, Lukoil Aviation Bulgaria EOOD and Lukoil Bulgaria Bunker EOOD. It also includes entities owned at least 50 per cent by those companies individually or collectively. Both new licences expire on 24 April 2027. From 15 October, 128D entirely replaced 128C, and 130B replaced 130A. The superseded licences had both been dated 14 April.[1]

Restrictions on Russia-bound funds stay in place

The station licence allows the covered companies’ blocked accounts to be debited or credited for authorized dealings. Ordinary business can include fuel supplies, payroll, insurance and maintenance, depending on the licence’s scope. Restrictions involving Russia’s central bank, National Wealth Fund and finance ministry remain, along with specified correspondent-account prohibitions for foreign financial institutions. Otherwise prohibited transactions with blocked parties outside the named group, including other blocked Lukoil affiliates, require separate permission. OFAC also distinguished the retail-station authorization from the broader General License 131J for Lukoil International entities, which expires on 22 October. The underlying sanctions designations remain in place.[1]

References

  1. News sourceOffice of Foreign Assets ControlLukoil permissions extended for specified operations outside Russia↩1↩2↩3↩4
  2. News sourceAnadolu AgencyUS extends permission for Lukoil service stations outside Russia↩
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