The US Treasury Department has once again pushed back the deadline for the potential sale of Russian energy company Lukoil’s international assets, according to Ship & Bunker. The latest extension gives negotiating parties an additional month to reach a deal.
According to Ship & Bunker, a new license issued by the Treasury’s Office of Foreign Assets Control (OFAC) extends the deadline to August 22, 2026. The document, General License 131H, replaces the previous General License 131G, which had been set to expire on July 24.
What the License Covers
Ship & Bunker reports that the license permits transactions necessary to maintain or wind down the operations of LIG entities during the extension period. However, the outlet notes that any actual sale of Lukoil’s assets remains subject to separate OFAC approval, meaning this license alone does not authorize completion of a transaction.
The license also continues to prohibit the transfer of funds to accounts located in Russia, Ship & Bunker states. Broader sanctions on Lukoil and other blocked entities remain firmly in place and are not lifted by this latest extension.
Ongoing Negotiations
According to Ship & Bunker, the repeated extension signals that the sale process for Lukoil’s overseas assets is still underway, with US authorities continuing to allow additional time for negotiations while keeping existing sanctions restrictions intact.
Among the assets of particular relevance to the bunker industry is Lukoil Bulgaria, which Ship & Bunker identifies as a key supplier of marine fuel in the Black Sea region.
Does This Matter to You?
The continued uncertainty around Lukoil’s overseas asset sale, particularly involving Lukoil Bulgaria, carries relevance for parties tracking marine fuel supply in the Black Sea. As a key regional bunker supplier, any change in ownership, operational status, or sanctions treatment of Lukoil Bulgaria could influence fuel availability and supply chain planning in that area.
The repeated deadline extensions also reflect the broader complexity of sanctions compliance tied to Russian-linked entities in the maritime fuel sector. Those involved in bunkering operations, compliance, or trade in regions served by Lukoil’s international network may want to monitor how this situation develops, particularly as the current license window is set to close on August 22, 2026.
The source material does not specify further details about how a completed sale, if it occurs, would affect operations at Lukoil Bulgaria or other assets.
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
