The Office for Financial Sanctions Enforcement (OFSI) at the UK Treasury has issued a temporary license allowing companies to continue their activities with “Lukoil International“ (Lukoil International GmbH) – the Austrian-based subsidiary of the Russian company “Lukoil“, which owns the group's foreign assets, including those in Bulgaria, Reuters reported, BTA reported.
The license is valid until February 26 and allows payments and other transactions to be made under certain conditions, emphasizing that funds owed to “Lukoil“ remain frozen.
Earlier this month, Britain issued a special license that allows businesses to continue working with two Bulgarian subsidiaries of sanctioned Russian oil company “Lukoil“.
The license allows companies and banks to conduct transactions with “Lukoil Bulgaria“ EOOD and “Lukoil Neftochim Burgas“ AD, as well as their subsidiaries, until February 2026.
In the middle of last month, British authorities announced sanctions against the largest Russian oil producers, including “Lukoil“ and “Rosneft“, for their role in financing Moscow's invasion of Ukraine. A little later, the United States also introduced similar sanctions.