The US Treasury Department has extended until April 24, 2027 the permit for certain transactions with the Bulgarian companies of the Russian oil company “Lukoil“. The new general license No. 130B was issued by the Office of Foreign Assets Control of the US Treasury Department.
The permit covers “Lukoil Neftochim Burgas“, “Lukoil Bulgaria“, “Lukoil Aviation Bulgaria“ and “Lukoil Bunker Bulgaria“, as well as companies in which these companies directly or indirectly own at least 50% of the capital.
“Transactions involving the aforementioned companies are permitted until 00:01 Eastern Time on April 24, 2027“The license replaces the previous license, which expires in October 2026. The US authorities have also issued a general license No. 128D, which allows certain transactions with “Lukoil“ gas stations located outside of Russia.
Sanctions remain in effect
The extension does not constitute a waiver of the sanctions against “Lukoil“. It does not automatically authorize transactions with other sanctioned individuals or activities that remain prohibited under the U.S. sanctions regime.
The U.S. imposed sanctions on Lukoil and Rosneft in October 2025 as part of pressure on Moscow to end the war in Ukraine. Lukoil subsequently announced its intention to sell its international assets, and U.S. authorities have repeatedly extended the authorizations for limited operations while negotiations with potential buyers continue.
Sale of international assets remains unresolved
The U.S. investment company Carlyle Group is no longer in active negotiations to acquire Lukoil's international assets. The agreement, reached at the beginning of the year, expired in the summer after the deal did not receive the necessary approval from OFAC.
Previously, “Lukoil“ had negotiated the sale of its international business to the energy commodity trader “Gunver Group“, later renamed “Sentalion Group“. That deal also fell through.
According to a publication by “The New York Times“, a group of investors led by American billionaire Todd Bowley is in talks to acquire a stake in “Lukoil“s foreign assets. Potential buyers include investors from the Middle East, including structures linked to the ruling family in Abu Dhabi, as well as Qatari businessmen.
Special management in Bulgaria
The first special US permit for Bulgarian companies was issued in November 2025, after Bulgaria appointed former director of the National Revenue Agency Rumen Spetsov as special commercial manager of the “Lukoil“ business in the country.
In the same month, the National Assembly adopted legislative changes that allow the sale of assets under special management and without the consent of the Russian owner. In late February, the Swiss “Litasco“ warned Bulgaria of possible arbitration proceedings. The company is the direct owner of the Bulgarian companies and is fully owned by “Lukoil“.
Sources: bta.bg