President Donald Trump’s administration on Thursday suspended some sanctions against the Russian energy giant Lukoil and its gas stations outside of Russia can continue to operate. TASR writes about it according to the AFP and Reuters agencies. USA imposed sanctions on Russian oil companies in October in an attempt to limit Russia’s income in financing the war in Ukraine. The latest sanctions relief is in effect until April 29, 2026, according to a post on the US Treasury website.
This allows Lukoil gas stations outside of Russia to continue serving customers, while preventing money from flowing back to Russia. The finance ministry said it had extended the permit to “mitigate harm to consumers and suppliers trying to conduct routine transactions” with Lukoil-owned retail gas stations.
Lukoil has approx 200 gas stations in the US states of New Jersey, Pennsylvania and New York. Lukoil-owned Finnish operator of about 430 service stations, Teboil, announced last month that it would phase out its operations as it ran out of fuel. Lukoil is also a leading retail player in Moldova and Bulgaria, operating approximately 600 gas stations in Turkey and more than 300 in Romania.
