US Extends Lukoil Sanctions Waiver Until 2027

The United States Department of the Treasury on Thursday announced, according to Euronews, that it has extended a sanctions waiver for Russian oil major Lukoil until 24 April 2027. The waiver, originally granted in 2023 to mitigate disruptions to European energy supplies, allows US persons to engage in a defined set of commercial activities with Lukoil’s Bulgarian subsidiaries. A separate Treasury licence further authorises specific transactions involving those Bulgarian entities for the same period, confirming that the exemption will remain in force for the next four years. The extension intersects with the European Union’s own sanctions framework, which has kept most Russian energy firms off the EU market since 2022. While the EU has maintained a hard line, it has also warned of possible “secondary effects” on member‑state energy security. By keeping a narrow US‑approved channel open for Lukoil’s operations in Bulgaria, the waiver helps stabilise supply chains across the single market, but it also raises questions about the coherence of trans‑atlantic sanctions coordination. For European consumers and businesses, the decision is expected to limit abrupt price spikes in downstream fuel markets, particularly in the Balkans where Lukoil holds a significant refining footprint. Policy makers will monitor the waiver as the EU prepares its annual energy security review slated for November 2026 and the forthcoming round of sanctions renewal discussions in the Council of the EU in early 2027. Any further extensions will likely be tied to progress on diversifying Russian‑origin energy imports.

Source: Euronews. Read the original report ↗