The United Kingdom has allowed the continuation of business operations with Lukoil International despite sanctions on the Russian Lukoil, the UK government said on its official website.
Under a general licence from the Treasury, until 26 February 2026 any persons who are not subject to sanctions may enter into agreements with Lukoil International and its subsidiaries, and may make payments between other counterparties under such agreements.
However, funds must be paid into a blocked account or may be paid only after Lukoil International has ceased to be under the control of the parent company.
The general licence is in force from 27 November 2025 to 26 February 2026, i.e. three months.
Lukoil owns three refineries in Europe, as well as stakes in oil fields in Kazakhstan, Uzbekistan, Iraq, Mexico, Ghana, Egypt and Nigeria. In addition, the company has hundreds of retail petrol stations around the world, including in the United States.
Lukoil was sanctioned by the United Kingdom in mid‑October and was subsequently added to the US SDN List.
- On 14 November, the United States extended the deadline for entering into contracts to sell the assets of Lukoil International GmbH to 13 December 2025.
- In addition, another licence allows transactions with Lukoil and Rosneft in relation to the Karachaganak and Tengiz fields, as well as the Caspian Pipeline Consortium in Kazakhstan.
