US Treasury extends waiver allowing Lukoil gas stations outside of Russia to operate, despite sanctions

The Trump administration on Dec. 4 extended a waiver that lets Lukoil-branded gas stations abroad stay in business, softening elements of the sanctions imposed on the firm in October.

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According to a Treasury Department posting, the waiver permits operations at roughly 2,000 stations across Europe, Central Asia, the Middle East, and the Americas through late April, 2026.

Washington's Oct. 22 sanctions, imposed simultaneously on Lukoil and Rosneft, marked the first direct U.S. penalties against major Russian energy firms in Trump’s second term and triggered significant interest from potential buyers for Lukoil’s $22 billion in foreign assets.

The measures froze the firms' U.S.-based assets and threatened secondary penalties for foreign entities engaging with them.

Lukoil maintains a sizable retail footprint abroad, including around 200 branded stations in U.S. states including New Jersey, Pennsylvania, and New York, as well as extensive networks in Moldova, Bulgaria, Turkey, and Romania.