US Again Extends Deadline for Lukoil to Sell Its Assets in Kazakhstan
Illustration: Orda.kz
The US Treasury has again extended the deadline for negotiations over the sale of Lukoil’s foreign assets. The new authorization remains valid until September 19, 2026, Orda.kz reports, citing a document issued by the US Office of Foreign Assets Control.
General License 131I permits negotiations and conditional agreements involving Lukoil International GmbH, or LIG, and companies in which it owns at least a 50% stake.
The license does not authorize the actual sale or transfer of the assets. Any agreement must be conditional on separate approval from OFAC. Transferring funds to individuals or accounts in Russia also remains prohibited.
The latest authorization replaces General License 131H, issued on July 24.
Why Has the Sale Been Delayed?
The United States sanctioned Lukoil and Rosneft in October 2025 as part of efforts to increase pressure on Russia over its war against Ukraine. The restrictions exposed foreign companies dealing with the two oil producers to the risk of secondary sanctions.
Lukoil has since sought several extensions while looking for buyers for its international business.
US investment firm Carlyle has been among the companies considering an acquisition. Saudi Arabia’s Midad Energy has also reportedly expressed interest and signed a memorandum of intent, although no progress on a possible transaction has since been announced.
OFAC requires any approved sale to completely sever the foreign assets’ ties with Lukoil. Money owed to the Russian company must remain frozen in an account under U.S. jurisdiction until sanctions are lifted.
Kazakhstan Projects Excluded
According to the report, the transaction currently under discussion does not include Lukoil’s stakes in Kazakhstan’s major oil and gas projects.
The Russian company holds 5% of Tengiz, 13.5% of Karachaganak and 50% of the Kalamkas-Sea–Khazar project. Its lubricant plant in Almaty Region is also excluded.
Original author: Ruslan Loginov
Read also:
Latest news
- US Again Extends Deadline for Lukoil to Sell Its Assets in Kazakhstan
- Kazakhstan Extradites Business Manager From Russia in 290 Million Tenge Tax Case
- Released Amur Tiger Successfully Hunts in Kazakhstan’s Wild
- Kazakhstan Moves to Develop Critical Minerals as Global Competition Intensifies
- Another Performance by Kazakh Stand-Up Comedian Called Off
- Uzbekistan Begins Preparations for Second Nuclear Power Plant
- Backpack Links Glacier Remains to Man Missing for 19 Years
- 650-Hectare Wildfire Contained in Karaganda Region
- Unusual Wildlife Encounter Captured in Altyn-Emel
- Retired Border Service Dog Sold for $2 at Kazakhstan Auction
- Will Kazakhstan Have Enough Coal This Winter?
- Belarusian Hikers Find Body on Glacier Near Almaty
- Kazakhstan Investigates Spending on 242 Million Tenge Educational Game
- Kazakhstan Makes Caspian Oil Companies Pay for Counterterrorism Deployments
- Kazakhstan Faces Shortage of 245,000 School Places
- Waste Dumping Reported Near Yurt Camps at Lake Zaisan
- Kazakh Oil Rerouted to Novorossiysk as Russia Frees Baltic Export Capacity
- Amur Tiger Umit Adapts to Life in the Wild in Southern Balkhash
- Former Orda.kz Editor-in-Chief Gulnar Bazhkenova Sentenced to Eight Years
- Archaeologists Study 1,500-Year-Old Settlement in Southern Kazakhstan
