The US Treasury Department said Thursday that it extended the deadline for Russian energy company Lukoil to sell foreign assets until April 1, issuing a new general license that supersedes a previous extension set to expire at the end of February.
The Treasury's Office of Foreign Assets Control issued a license authorizing transactions "ordinarily incident and necessary to the negotiation of and entry into contracts for the sale, disposition, or transfer of Lukoil International GmbH" and its affiliated entities through the beginnig of April.
Under the license, transactions related to the maintenance and wind-down of Lukoil's international operations are also permitted through the same date. But the license explicitly bars "the transfer of funds to any person or account located in the Russian Federation."
Any contracts entered into under the license remain contingent on receiving separate authorization from the Treasury Department before they can be executed, according to the agency.
Lukoil was sanctioned by Washington in October at the direction of US President Donald Trump, as part of broader efforts to squeeze Russia's energy revenues.
Lukoil is Russia's second-largest oil producer and a key target in Western efforts to reduce financial resources available for Moscow's military operations. The US frequently updates its sanctions licenses to manage the economic effect on global markets while maintaining pressure on the Kremlin.
By Yasin Gungor
Anadolu Agency
energy@aa.com.tr