The United States has extended the deadline for the divestment of Lukoil’s international assets until 1 April, a move that could give Washington additional leverage in ongoing diplomatic efforts related to the war in Ukraine.
The extension was granted by the Office of Foreign Assets Control (OFAC). The previous date of 28 February has now been pushed back, allowing prospective buyers more time to negotiate the acquisition of assets estimated to be worth around 22 billion dollars.
This marks the fourth postponement since sanctions were introduced against major Russian energy firms in October. Industry sources indicate that the disposal process has evolved beyond a purely commercial transaction and is now intertwined with broader geopolitical discussions involving the United States, Russia, and Ukraine.
The sanctions framework also covers Rosneft, Russia’s largest oil producer, with further diplomatic engagements expected in March.
Lukoil’s overseas portfolio spans multiple regions, including oil fields, refineries, and fuel retail networks stretching from Iraq to Finland. Interest in the assets remains high, with more than ten potential bidders reportedly exploring participation. Among those mentioned are Exxon Mobil, investment firm The Carlyle Group, and a joint initiative involving Chevron and Quantum Capital Group.
With the transaction timeline now extended, the fate of Lukoil’s global assets appears increasingly connected to the trajectory of high-level negotiations over Ukraine.
