Published by Global Banking & Finance Review®
Posted on March 30, 2026
2 min readLast updated: March 30, 2026
Add as preferred source on GoogleThe US Treasury’s OFAC extended a general license by one month—until May 1, 2026—allowing companies to negotiate with Russia’s Lukoil over its foreign assets under GL 131C, supporting orderly divestment amid sanctions.
March 30 (Reuters) - The U.S. on Monday extended a deadline for the fourth time for companies to negotiate with Russia's Lukoil about buying its foreign assets after Washington imposed sanctions on the energy company last year.
The U.S. Office of Foreign Assets Control extended the deadline this time by a month to May 1 for companies interested in buying the foreign assets that are worth about $22 billion.
Washington imposed sanctions in October on Lukoil, Russia's second-largest oil producer, and Rosneft, its top producer, to reduce Moscow's ability to pay for its war on Ukraine.
Parties interested in the assets have included U.S. private equity firm Carlyle, U.S. oil majors Exxon Mobil and Chevron Corp, Abu Dhabi conglomerate International Holding Company, and Austrian investor Bernd Bergmair, the former majority owner of an adult entertainment group that includes website Pornhub.
Any specific deals struck with Lukoil over the assets will require OFAC approval.
The Trump administration slowed the sale of Lukoil's international assets to pressure Russia in Ukraine peace talks, four sources told Reuters in February.
(Reporting by Timothy Gardner and Costas Pitas; editing by Daphne Psaledakis and Rod Nickel)
The United States extended the deadline to May 1, 2024, for companies to discuss buying Lukoil's foreign assets.
The US Treasury Department extended the license by one month.
Russian energy company Lukoil is the company involved in the asset sale extension.
The license was extended by one month, now expiring on May 1, 2024.
The extension allows companies more time to negotiate with Lukoil regarding the purchase of its foreign assets.
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