The Trump administration extended sanctions exemptions for Lukoil gas stations operating outside Russia, allowing them to continue operating until the end of April 2026.
The move by the US Treasury Department's Office of Foreign Assets Control (OFAC) on December 4 is expected to help ease concerns about the risk of sudden disruptions in the European and American markets, where Russia's second largest oil producer is operating a retail network.
Lukoil is the Russian oil and gas enterprise with the largest international presence, holding shares in refineries in Europe and owning many oil fields stretching from Iraq to Kazakhstan. The Lukoil brand also appeared in the gas station system in the US, Belgium, Romania and many other countries.
Analysts said that Lukoil's extension of sanctions exemptions for the gas station system outside Russia shows that despite continuing to tighten sanctions on Russia, the US is still ready to make a targeted exception to avoid causing unnecessary shocks to local economies.
In many countries from Balkan to Central Europe, the fuel distribution network is heavily dependent on international suppliers; sudden supply cuts can lead to oil shortages, high prices or disrupt the operations of foreign partners.
Lukoil's decision to extend sanctions for the gas station system outside Russia comes as the December 13 deadline is approaching, requiring Lukoil to divest from the company's international assets.
