The United States has adjusted its sanctions timetable, granting Russian oil producer Lukoil additional time to complete the sale of its overseas assets. The move was announced by the U.S. Department of the Treasury as part of its broader sanctions enforcement strategy aimed at reshaping Russia’s access to global capital.
Through its enforcement arm, the Office of Foreign Assets Control (OFAC), U.S. authorities extended the existing deadline by 45 days. Officials explained that the extension is designed to facilitate divestments that weaken Russia’s financial position, while ensuring that all transactions take place under strict regulatory oversight.
U.S. authorities confirmed they are aware that Lukoil is seeking buyers for its non-Russian assets who are not subject to sanctions. The Treasury emphasized that it is closely monitoring the process to ensure negotiations are conducted transparently and in good faith, with no attempts to circumvent existing restrictions.
Any proposed transaction will be assessed against criteria linked to U.S. national security and foreign policy objectives, the Treasury said, signaling that approvals will depend not only on legal compliance but also on broader geopolitical considerations.
Lukoil was added to the U.S. sanctions list on 22 October last year, as Washington intensified pressure on Russia’s energy sector. As Russia’s second-largest oil producer, Lukoil has been identified as a key source of export revenues that Western governments are seeking to constrain in order to limit funding for Russia’s military activities.
U.S. officials noted that sanctions licenses are regularly updated to balance two core priorities: maintaining economic pressure on Moscow while avoiding unnecessary disruption to global energy markets.