U.S. Extends Deadline for Lukoil’s Foreign Asset Sales to May 1

The United States is extending by a month through May 1, 2026, the deadline for potential buyers to negotiate buying the foreign assets of Russia’s second-biggest oil producer, Lukoil, which the U.S. sanctioned in October to force Russia to negotiate peace in Ukraine. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) authorized in a new general license negotiations of potential deals until May 1, provided that such agreements are approved by the OFAC in separate authorizations. Earlier this year, Lukoil announced it had agreed to sell…