Russia’s Lukoil seeks delay on U.S. sanctions deadline
Russian oil giant Lukoil has requested that the U.S. Treasury Department postpone the November 21 deadline for completing transactions following recently imposed sanctions.
The U.S. sanctions, targeting Lukoil and Rosneft, require the companies to finalize the sale of foreign assets and other transactions by the set date. Lukoil is seeking more time to meet existing obligations and review proposals for selling its overseas holdings, News.Az reports, citing foreign media.
The sanctions have prompted European countries hosting Lukoil refineries to explore solutions to prevent plant shutdowns. In Bulgaria, parliament has approved the appointment of a new head at a refinery, which may be nationalized and subsequently sold. Romania is also requesting a U.S. postponement to manage the impact.
Additionally, Lukoil reported a force majeure at the West Qurna-2 oil field in Iraq, temporarily halting operations. In Moldova, officials are in discussions with Lukoil over the potential sale of the company’s facilities at Chisinau Airport, including the aviation fuel depot.
The unfolding situation highlights the broader geopolitical and operational challenges Russian energy companies face amid U.S. and European sanctions.
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