US Treasury allows talks about sale of Lukoil's foreign assets until April 1

The US Treasury Department has extended a license for companies to negotiate with Russian oil company Lukoil about buying its foreign assets until April 1, Reuters noted, citing a document by the Office of Foreign Assets Control (OFAC), Report informs.

The license was initially valid until January 17 and was later extended until February 28. It authorizes transactions related to negotiations regarding the sale, disposition, or transfer of Lukoil International GmbH and its assets.

In October, the US Treasury Department included Lukoil and Rosneft, as well as 34 subsidiaries of these companies, in a new package of US sanctions. On December 4, the agency authorized the purchase of goods and services at Lukoil facilities outside of Russia until April 29, 2026. This license had previously been extended until December 13.