World News
UK Delays Sanctions on Lukoil International Entities Until February
Wednesday December 3, 2025
The UK government has postponed the scheduled sanctions on Lukoil International's assets, granting the Russian firm a three-month reprieve.
The restrictions, originally due to take effect on November 28, will now come into force on February 26, 2026, the UK government said in a notification on November 27.
The delay follows the issuance of a new general licence allowing continued dealings with certain Lukoil-linked entities during the transition period.
Lukoil's international holdings of particular relevance to the bunker industry include Lukoil Bulgaria Bunker, a key marine fuel supplier in the Black Sea.
In a similar step last month, the US granted Lukoil's Bulgarian entities a waiver until April 29, 2026.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 441.00 | 0.50 | 671.50 | 9.50 |
| Rotterdam | 406.50 | 1.50 | 657.00 | 3.50 |
| Houston | 433.00 | 2.00 | 665.50 | 10.00 |
| Fujairah | 434.00 | 0.50 | 718.50 | 1.50 |
| Global 20 Ports Average | 473.00 | 0.50 | 755.50 | 2.00 |
| Global 4 Ports Average | 428.50 | 1.00 | 678.00 | 5.50 |
| Global Average Bunker Price | 521.00 | 8.50 | 799.50 | 1.50 |
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