The Trump administration extended a waiver for Lukoil PJSC’s gas stations outside of Russia, allowing them to continue operations until late April 2026.
The measure by the US Treasury Department’s Office of Foreign Assets Control could help ease concerns about sudden disruptions across Europe and the Americas, where Russia’s second-largest oil producer has retail operations.
As Russia’s most internationally diversified oil firm, Lukoil has stakes in European oil refineries as well as significant holdings in oil fields from Iraq to Kazakhstan. Its brand also extends to filling stations from the US to Belgium and Romania.
Washington’s move shows that even as the US tightens the screws on Moscow, it’s willing to make targeted exceptions to prevent an unnecessary shock to local economies. Retail fuel networks in nations from the Balkans to Central Europe rely on international suppliers, and abrupt cutoffs risk spilling into fuel shortages, higher prices or operational headaches for foreign partners.
The decision lands with a key Dec. 13 deadline looming for Lukoil to offload its international assets.
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