EMEA News
US Gives Lukoil Bulgaria Units Sanctions Relief Including Bunker Firm
The US has granted temporary sanction relief to Russian oil firm Lukoil entities in Bulgaria, including the bunkering unit.
The waiver allows firms to continue doing business with Lukoil Bulgaria Bunker, Lukoil Aviation Bulgaria, Lukoil Bulgaria and Lukoil Neftohim Burgas until April 29, 2026, the US Department of the Treasury said in a statement on its website on Friday.
It also applies to any other company in which these units hold a stake of 50% or more.
The relief does not cover other Lukoil affiliates that remain blocked under US sanctions rules, and dealings with those entities are still prohibited unless separately authorised.
The US imposed new sanctions on Rosneft and Lukoil last month in response to the war in Ukraine.
Afterward, Lukoil said it was seeking to sell its international assets and had accepted an offer from commodity trading firm Gunvor; however, some reports suggested the deal had stalled amid US concerns.
Lukoil's international assets of interest to the bunker industry include Lukoil Bulgaria, a key supplier of marine fuel in the Black Sea.
