Lukoil assets still pending - US extends deadline for talks until January 17
The U.S. Office of Foreign Assets Control (OFAC) said it is authorizing certain transactions for the negotiation and entry into contingent contracts for the sale of Lukoil's international assets until January 17, extending a previous deadline of December 13.
The general license extension also permits certain transactions related to the maintenance, or termination, of operations and contracts of Austria-based Lukoil International, a holding company for Lukoil's foreign businesses, and entities in which it has an interest of at least 50%, OFAC said.
The move follows last week's extension by OFAC of a special exemption, allowing Lukoil gas stations located outside of Russia to continue operating until April 29.
The US Treasury announced sanctions on Lukoil and another Russian oil company, Rosneft, in October, aiming to cut off the Kremlin's energy revenues that are allegedly being used to finance the war in Ukraine.
Since then, Lukoil has sought to sell its international business, with multiple buyers, including Hungary's MOL, Exxon Mobil, Chevron and Carlyle, reportedly competing for these assets.
In Southeastern Europe, Lukoil owns Bulgaria's only refinery, Lukoil Neftohim Burgas, the Petrotel refinery in Romania, gas station networks in both countries, as well as in Serbia, Croatia, Montenegro, Moldova and North Macedonia, as well as several depots for petroleum products throughout the region.
Lukoil International oversees more than 100 foreign subsidiaries of Lukoil in about 50 countries. According to media reports, Lukoil's international assets are valued at about $22 billion (18.8 billion euros).
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