UK extends general licence allowing Lukoil's Bulgarian operations to continue

LONDON, Oct. 28, 2026 – The Office of Financial Sanctions Implementation (OFSI) announced the extension of General Licence INT/2025/7895596, which permits the continuation of business operations involving Lukoil's Bulgarian subsidiaries despite UK financial sanctions against their Russian parent company. The extension was confirmed in an update to OFSI's general licences register on Wednesday.

The licence covers Lukoil Bulgaria EOOD, Lukoil Neftochim Burgas AD, Lukoil Aviation Bulgaria EOOD and Lukoil Bunker Bulgaria EOOD, together with qualifying subsidiaries. It permits certain payments under existing and new contractual obligations, the provision and receipt of economic resources, and other transactions necessary for continued business operations. The licence operates under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019.

The UK designated PJSC Oil Company Lukoil on Oct. 15, 2025, subjecting the company and entities it owns or controls to financial sanctions. OFSI subsequently issued the Bulgarian operations licence on Nov. 14, 2025, before expanding its coverage and extending its validity on several occasions. An amendment in August 2026 introduced additional notification requirements and extended the licence's expiry to Oct. 29, 2026.

The latest extension comes as Bulgarian authorities continue efforts to determine the future of Lukoil's operations in the country. OFSI has previously acknowledged those efforts when explaining the need for temporary licensing arrangements.

The updated expiry date and any additional conditions of the Oct. 28 extension have not yet been confirmed in the individual licence documentation available on the government's website. The extension does not remove Lukoil's designation or provide a general exemption from UK sanctions outside the activities specifically authorised by the licence.