Finance
US Extends Waiver for Lukoil Gas Stations Outside of Russia
Published by Global Banking & Finance Review®
Posted on April 14, 2026
2 min readLast updated: April 14, 2026
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The U.S. Treasury’s OFAC has extended a narrow waiver (General License 128) allowing approximately 2,000 Lukoil-branded retail fuel stations outside Russia to continue operations—covering Europe, Central Asia, the Middle East and the Americas—until April 29, 2026, mitigating disruptions amid U.S. sa
US Extends Waiver for Lukoil Gas Stations Outside of Russia to October
Extension of Waiver for Lukoil Operations Abroad
WASHINGTON, April 14 (Reuters) - The Trump administration has extended a waiver allowing Lukoil retail service stations to operate outside of Russia until late October, a narrow allowance in sanctions the U.S. imposed last year to curb revenues supporting Moscow's war in Ukraine.
Scope and Duration of the Waiver
The waiver for about 2,000 stations throughout Europe, Central Asia, the Middle East and the Americas has been extended until October 29, the Treasury Department said on its website on Tuesday.
Background on US Sanctions
President Donald Trump imposed sanctions on Lukoil and Rosneft, Russia's two biggest oil companies, in October, stirring up interest from potential buyers of Lukoil's estimated $22 billion of international assets.
Lukoil’s Global Presence
Lukoil has about 200 branded gas stations in New Jersey, Pennsylvania and New York. It is one of the top motor fuel retailers in Moldova and Bulgaria and operates about 600 stations in Turkey and more than 300 in Romania.
Additional Treasury Actions
The Treasury also issued a license allowing certain transactions with Lukoil refining entities in Bulgaria, including Lukoil Neftohim Burgas JSC.
Reporting Credits
(Reporting by Timothy Gardner and Bhargav AcharyaWriting by Susan HeaveyEditing by David Goodman)
Key Takeaways
- •The waiver permits only retail fuel-related transactions—not corporate activities or payments to Lukoil beyond blocked accounts—enabling continued service while limiting revenue to Moscow (eutoday.net).
- •OFAC’s extension follows prior sanctions imposed in October 2025 on Lukoil and Rosneft under Executive Order 14024; the general license reflects a pragmatic balance—reducing Kremlin oil revenues while avoiding immediate energy disruptions (cov.com).
- •The move provides breathing room for downstream markets and potential asset divestments: Lukoil has been negotiating sales of its international assets (e.g. with Carlyle Group) under separate licenses, while continuing to wind down operations in sensitive regions (apnews.com).
References
- Lukoil granted extra time to unwind overseas petrol business under US and UK sanctions - https://eutoday.net
- U.S. and UK Sanctions Target Russia’s Two Largest Oil Companies; EU Issues Significant New Russia and Belarus Sanctions Package | Covington & Burling LLP
- Russia's Lukoil plans sale of international assets in response to planned US sanctions
Frequently Asked Questions about US extends waiver for Lukoil gas stations outside of Russia
1What is the US waiver for Lukoil gas stations?
The US waiver allows Lukoil's retail gas stations operating outside of Russia to continue operations despite sanctions.
2How long has the waiver for Lukoil gas stations been extended?
The waiver has been extended until October 29.
3Which regions are affected by the waiver extension for Lukoil?
The waiver covers about 2,000 Lukoil stations in Europe, Central Asia, the Middle East, and the Americas.
4Why were sanctions imposed on Lukoil by the US?
Sanctions were imposed to curb revenues that support Moscow's war in Ukraine.
