Reuters: The US postpones sanctions against “Lukoil” for the fourth time. What is the reason

The US has postponed sanctions against the international assets of Russian oil giant “Lukoil” for the fourth time. This time, the date has been moved from February 28 to April 1. This is explained by the need for time to conclude sales agreements.

Reuters reports this, citing four sources familiar with the negotiations, as well as a document from the US Office of Foreign Assets Control, which journalists reviewed.

According to three sources, the latest rounds of trilateral talks between Ukraine, the United States and Russia have raised the issue of US sanctions against “Lukoil” and Russiaʼs largest oil producer, state-owned “Rosneft”.

According to one of the sources, any deal with “Lukoil” requires that all proceeds from the sale be deposited into a frozen account under American jurisdiction.

On February 7, President Volodymyr Zelensky said Ukrainian intelligence had told him that Putin’s special representative Kirill Dmitriev had offered the White House an economic deal worth $12 trillion. One source said the offer included “Lukoil” assets, which could further complicate the sale.

The US sanctions against Lukoil

The US President Donald Trump imposed sanctions on “Lukoil”, “Rosneft” and their subsidiaries on October 23. The list includes more than 30 units of both companies, including oil fields, gas and oil refineries across the country.

In November, Bulgaria said it was preparing a law that would allow it to seize the Russian-owned “Lukoil Neftekhim Burgas” refinery — the largest oil refinery in the Balkans, which provides about 80% of Bulgariaʼs fuel — and then sell it to a new owner.

At the same time, “Lukoil” reported that its foreign assets were planned to be purchased by the Swiss company “Gunvor”. But “Gunvor” refused to buy “Lukoil” foreign assets after the US threatened to deny the company a license to operate and make a profit.

Several companies have already signed agreements with “Lukoil”, including the American private equity firm “Carlyle Group”, Saudi “Midad Energy”, and American billionaire Todd Boely.

On December 4, the US also postponed sanctions against 2 000 “Lukoil” gas stations located outside the Russian Federation until April 29. This was also explained by the need for time to conclude sales agreements.

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