Lukoil asset sale deadline extended amid Ukraine talks

This was reported by Reuters, citing sources familiar with the negotiations and its own review of documents.

The U.S. Office of Foreign Assets Control (OFAC), operating under the Department of the Treasury, extended the previous deadline, which was set to expire on February 28, giving potential buyers additional time to negotiate over assets valued at around $22 billion.

This marks the fourth delay since sanctions on Russian energy companies were introduced in October, the British agency notes.

According to sources, the process of selling Lukoil’s assets has now been elevated to a higher political level and is directly included in broader negotiations between Washington, Moscow, and Kyiv.

The sanctions also cover Russia’s largest oil company, Rosneft, and the next round of negotiations is planned for March.

Lukoil’s international assets include a wide portfolio, such as oil fields, refineries, and gas stations from Iraq to Finland.

More than ten potential buyers are currently interested in these assets, including the American energy giant ExxonMobil, the investment fund Carlyle Group, as well as a joint project of Chevron and the Quantum Capital Group fund.

The situation is further complicated by statements from Ukrainian President Volodymyr Zelensky, who said that the Russian side proposed an economic deal worth as much as $12 trillion to the administration of President Donald Trump, which would include Lukoil’s assets.