Лукойл (Фото - EPA VASSIL DONEV)

The United Kingdom has allowed Lukoil International to temporarily continue its business operations, despite the fact that the parent company, Russian Lukoil, is under sanctions. This is reported on website of the British government.

According to the general license issued by the British Ministry of Finance, until February 26, any person (except for sanctioned persons) may conduct transactions with Lukoil International and its subsidiaries and make payments between any other counterparties within such transactions.

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In this case, the money must be transferred to a frozen account or can be paid after Lukoil International is released from Lukoil's control.

The general license is valid from November 27, 2025, to February 26, 2026, i.e. three months.

Lukoil owns three refineries in Europe, stakes in oil fields in Kazakhstan, Uzbekistan, Iraq and Mexico, Ghana, Egypt and Nigeria, and hundreds of retail gas stations around the world, including in the United States.

Lukoil was sanctioned by the UK in mid-October, and then the company was added to the US SDN List.

  • On November 14 The United States extended the term of operations to approve and conclude contracts for the sale of Lukoil International GmbH and related assets to Lukoil by December 13, 2025.
  • Another license allows for operations with Lukoil and Rosneft within the Karachaganak and Tengiz fields, as well as the Caspian Pipeline Consortium (CPC) in Kazakhstan.