The US has extended the deadline for sanctions against Russiaʼs “Lukoil” to take effect so that the oil company can sell international assets.
Bloomberg writes about this.
The US Treasury Department has issued a license for certain transactions related to the companyʼs gas stations and sales contracts. “Lukoil” sanctions exemption in Bulgaria has also been extended, but until April 29, the US Treasury Department said in a statement.
Anonymous sources told Bloomberg that interest in buying “Lukoil” foreign assets has grown in recent days. That is why potential buyers from the United States, Europe and the Persian Gulf have applied to the United States for permission to cooperate with the company.
One option involves the main buyer acquiring most of the international assets and also signing several smaller deals.
“Lukoil” has stakes in oil refineries in Europe and significant assets in oil fields from Iraq to Kazakhstan.
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 bought 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.
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