OREANDA-NEWS   The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department has extended the license for the sale of foreign assets to the Russian oil company Lukoil. The relevant document is posted on the management's website.

The document authorizes negotiations and contracts with Lukoil related to the sale of the company's international assets. The deadline was extended until January 28, and the document affects both the Russian oil producer itself, which has foreign assets, and any companies in which Lukoil directly or indirectly owns a stake of at least 50 percent.

There are also a number of exceptions in the permit. Thus, the license does not allow the unblocking of property subject to restrictions, transactions harmful to foreign activities, including transactions with sanctioned persons, are prohibited, and the transfer of funds to the Russian Federation is prohibited.

In October 2025, the United States, the European Union and the United Kingdom placed the Russian oil company Lukoil on a restrictive list. The company's management had to urgently look for a buyer for its international assets. The first of them was trader Gunvor, but the US Treasury did not give him permission to buy, as well as several subsequent applicants.

In early January 2026, Chevron and Quantum Energy Partners decided to join forces to purchase the foreign assets of the Russian company Lukoil. According to the Financial Times (FT) newspaper, they plan to divide the assets of the Russian oil company among themselves. It is reported that Lukoil's assets amount to $22 billion.