The administration of US President Donald Trump has extended an exemption that allows retail gas stations of the Russian company Lukoil to operate outside of Russia until the end of October. This is a narrowly defined exception to the sanctions that the United States imposed last year to limit Russia’s income supporting the war waged against Ukraine. Reuters reported about it.
The decision came at a time of a sharp rise in hydrocarbon prices due to the war in the Middle East. The US Treasury Department said on its website on Tuesday that exception for approximately 2,000 gas stations in Europe, Central Asia, the Middle East and America it was extended until October 29. It was originally supposed to be valid until April 29. The aim of this measure was “avoid penalty” customers and suppliers, under the condition that the proceeds are not transferred to Russia.
In an effort to put pressure on Russia over the war against Ukraine, the Trump administration decided in October 2025 that will impose sanctions on the two largest Russian oil companies – Lukoil and Rosneft. At the same time, this step increased the interest of potential buyers in Lukoil’s foreign assets, the value of which is estimated at approximately 22 billion dollars.
This company operates approximately 200 branded gas stations in the states of New Jersey, Pennsylvania and New York. It is also among the largest fuel retailers in Moldova and Bulgaria. It has approximately 600 gas stations in Turkey and more than 300 in Romania.
At the end of January, Lukoil’s foreign assets also included two refineries in Romania and Bulgariaas well as the West Qurna-2 oil field in the south of Iraq, which is one of the largest in the world.
