US extends Lukoil global asset sale deadline to June 27
The U.S. extended a license to negotiate for Lukoil's $22 billion foreign asset portfolio until June 27. All proceeds must be placed in frozen U.S. accounts.
The United States extended a license allowing bidders to negotiate for Lukoil's $22 billion global asset portfolio until June 27. This marks the sixth one-month extension since sanctions targeted the Russia-based oil producer in October. Investors face strict OFAC oversight to ensure no direct payments reach Lukoil during the forced divestment process.
The U.S. Treasury Department announced the one-month extension on Thursday evening. It permits continued talks regarding Lukoil assets spanning from Iraq to Finland. Sanctions followed the invasion of Ukraine to curb energy revenues used for military funding.
