Trump Administration Extends Waiver for Lukoil Operations

The Trump administration has provided a temporary extension for Lukoil, permitting its service stations to continue operations outside of Russia until October 29. This decision forms part of a wider sanctions strategy aimed at reducing Moscow's financial support for its war efforts in Ukraine.

The waiver impacts around 2,000 stations spread across Europe, Central Asia, the Middle East, and the Americas. The extension was officially announced by the Treasury Department, which also issued a license allowing certain transactions with Lukoil's refining entities in Bulgaria.

The sanctions were initially imposed by President Donald Trump last October and have attracted interest from potential buyers. Lukoil's assets abroad are valued at an estimated $22 billion, and the company has established a significant presence in places like New Jersey, Pennsylvania, and New York, among other global markets.