Balgarianovinite.com The United Kingdom has extended until October 29 the general license allowing transactions with the Bulgarian subsidiaries of Russian oil giant Lukoil, after the previous authorization was due to expire on August 13, Bulgaria’s Ministry of Economy, Investments and Industry said on Wednesday.
Lukoil owns the Neftohim oil refinery in the Bulgarian Black Sea city of Burgas and a chain of around 500 filling stations across Bulgaria. The Russian company was sanctioned over its support for Moscow’s war against Ukraine.
The extension allows Lukoil’s companies in Bulgaria to continue their operations despite the sanctions imposed by London on the Russian company in October last year. The extension had been requested by the Bulgarian side to align its validity period with a license issued by the US authorities, the Economy Ministry said.
“We took the necessary steps to ensure security of supply and the smooth operation of the refinery,” said Deputy Prime Minister and Economy Minister Alexander Poulev, as quoted in the press release.
The license issued by the Office of Financial Sanctions Implementation (OFSI) at the UK’s Treasury covers Lukoil Bulgaria, Lukoil Neftochim Burgas, Lukoil Aviation Bulgaria and Lukoil-Bulgaria Bunker. The authorization is necessary to allow the companies to make payments and carry out other transactions related to their normal business operations without their counterparties and the financial institutions servicing them breaching the UK’s sanctions regime.
The Economy Ministry in Sofia also said it will continue to monitor the process and work closely with international partners to ensure the continued operation of the Neftohim refinery.
The first UK general license for Lukoil’s Bulgarian assets came into effect on November 14, 2025, and was initially due to remain valid until February 14, 2026. It authorized payments to and from the affected companies under existing and new contracts and the processing of such payments by banks and other financial institutions.
In February 2026, the UK extended the license until August 13. At the time, the Bulgarian Energy Ministry said the decision resulted from the Bulgarian government’s efforts to ensure the uninterrupted operation of the companies and security of supply.
Alongside the UK sanctions, Lukoil is also subject to US restrictions. In October 2025, the US included Lukoil and Rosneft, as well as dozens of their subsidiaries, in a sanctions package.
The Office of Foreign Assets Control (OFAC) at the US Department of the Treasury also issued a separate license for Lukoil’s Bulgarian companies. In April 2026, its validity was extended until October 29, allowing transactions necessary for their operations. The UK and US authorizations now therefore expire on the same date.
Following the imposition of the sanctions, Lukoil announced plans to sell its international assets and began considering offers from potential buyers. At the end of January, the company announced that it had reached an agreement with US investment company Carlyle to sell Lukoil International GmbH, through which the group’s international assets are held. The deal is subject to regulatory approvals, including from OFAC.
The Bulgarian assets are among the Russian group’s significant international holdings and include the Neftohim refinery and fuel trading and distribution operations. The refinery is the largest in the Balkans.
The US authorities have also repeatedly extended a separate licence allowing negotiations and certain transactions related to the sale of Lukoil’s international assets. On July 24, the US Treasury extended the license by another month, until August 22. UK Extends License Allowing Transactions with Lukoil’s Bulgarian Companies until October 29 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-08-12 18:47:39 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law