The United States has once again pushed back the clock on the divestment of Lukoil’s overseas assets, granting a further extension to May 1, 2026. According to Ship & Bunker, the Office of Foreign Assets Control (OFAC) issued a new general license replacing the previous authorisation, keeping the sale process alive under existing sanctions constraints.
What the Extension Covers
As reported by Ship & Bunker, the updated OFAC license permits parties involved in the process to continue negotiations and sign contingent agreements for an additional month. Maintenance and wind-down activities related to the assets are also authorised to proceed during the same window.
Critically, any agreement reached during this period cannot be finalised without a separate OFAC sign-off. This means the extension opens the door for further talks, but does not constitute approval for a completed transaction.
Carlyle Deal and Bunker Industry Implications
Earlier this year, Lukoil announced it had reached an agreement to sell its international asset portfolio to US investment firm Carlyle, as noted by Ship & Bunker. Among the assets under consideration is Lukoil Bulgaria, which Ship & Bunker identifies as a significant supplier of marine fuel in the Black Sea region — making the outcome of these negotiations of direct relevance to bunkering operations in that area.
The repeated extensions signal that finalising this transaction under the weight of US sanctions requirements remains a complex undertaking, with regulatory approval forming a key hurdle before any deal can close.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
