The US Treasury Department has extended by 45 days, until 28 February 2026, a general license allowing companies to hold discussions with Russia’s oil group Lukoil regarding the potential acquisition of its foreign assets (US Treasury Department statement, 14/01/2026). In October 2025, the Treasury announced sanctions targeting Russia’s two largest oil companies, Rosneft and Lukoil (KEI, 24/10/2025).
The extended license, which had been due to expire on 17 January, also permits interested parties to enter into contingent sale agreements and to proceed with the wind-down of related operations. This marks the second extension of the deadline, following an initial extension granted in December 2025.
Under the sanctions regime, any transaction involving Lukoil’s assets would require explicit approval from the US Treasury.