The United States has decided to delay the implementation of sanctions against the gas stations of the Russian oil company “Lukoil” located outside of Russia until April 29, 2026.
This is reported by Finway
Which countries are affected by the decision
According to Reuters, around 2,000 Lukoil gas stations in Europe, Central Asia, the Middle East, and the Americas could have been subject to sanctions. In the United States, the company owns approximately 200 gas stations located in New Jersey, Pennsylvania, and New York. Additionally, Lukoil is among the leading players in the fuel market in Moldova and Bulgaria, and it operates around 600 stations in Turkey and over 300 in Romania.
Reasons for the postponement of sanctions
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury explained that the decision to postpone the sanctions was made to minimize the negative impact on consumers and suppliers who wish to continue their normal business activities.
As explained by the Office of Foreign Assets Control (OFAC), this decision was made to “mitigate harm to consumers and suppliers who seek to conduct normal operations.”
In October, U.S. President Donald Trump announced the imposition of sanctions against Lukoil and Rosneft. These were the first direct restrictions from Washington on Russian oil companies during Trump’s current presidential term.
As a result of the imposed restrictions, interest in purchasing Lukoil’s international assets, estimated by experts to be worth around $22 billion, has increased. Last month, the U.S. Department of the Treasury allowed companies to negotiate the acquisition of Lukoil’s foreign assets until December 13. To finalize agreements, parties must obtain separate approval.