The United States has once again postponed the deadline for companies negotiating with Russian Lukoil over the potential purchase of its international assets, marking the fourth extension since sanctions were imposed on the company last year.
The US Treasury’s Office of Foreign Assets Control (OFAC) has granted interested parties an additional month, moving the deadline to 1 May. This extension applies to discussions related to Lukoil’s foreign asset portfolio, which is estimated to be worth around $22 billion.
Any eventual transaction involving those assets would still require separate approval from OFAC, meaning the latest move does not amount to an automatic green light for a sale, but rather keeps the negotiation window open for prospective buyers.
Washington imposed sanctions on Lukoil and Rosneft in October, targeting two of Russia’s largest oil producers. Since then, the US administration has slowed the divestment process as part of broader efforts to maintain leverage over Moscow in the context of negotiations related to the war in Ukraine.
Several major international investors and energy companies have reportedly expressed interest in the assets. The list of potential bidders is said to include Carlyle, ExxonMobil, Chevron, as well as the International Holding Company from the United Arab Emirates. Austrian investor Bernd Bergmair has also been mentioned among those exploring a possible deal.
The repeated extensions suggest that while interest in the assets remains substantial, geopolitical considerations continue to play a central role in determining the pace and structure of any eventual transaction.
