London – The UK Treasury has extended a general licence for Lukoil Bulgaria entities until February 26, 2027, according to a document published on the Treasury’s Office of Financial Sanctions Implementation website. The licence, which took effect on November 14, 2025 and was extended on October 28, 2026, allows the Bulgarian subsidiaries of Russia’s Lukoil—including Lukoil Bulgaria EOOD, Lukoil Neftochim Burgas AD, Lukoil Aviation Bulgaria EOOD and Lukoil Bunker Bulgaria EOOD—to carry out payments and other transactions related to their normal business activities without breaching the UK sanctions regime.
Bulgaria’s Economy, Investment and Industry Ministry welcomed the extension, saying it was an important step toward ensuring stability and predictability for the companies’ operations and for the security of crude oil supplies and the uninterrupted operation of the Burgas refinery. Deputy Prime Minister and Economy Minister Alexander Poulev noted that the licence was the result of active dialogue at government level under Prime Minister Rumen Radev and talks with the British partners and the British Embassy in Sofia. He added that the extension was essential for maintaining key business operations, including crude oil deliveries and tanker insurance, and that British insurers were crucial to the supply chain, providing insurance for more than 90% of the tankers delivering crude oil.
"Maintaining the ability to work with British companies and UK‑linked partners is an important condition for ensuring continuity of operations," Poulev said.
The United States Treasury has also extended authorisations for certain transactions with Lukoil’s Bulgarian subsidiaries until April 24, 2027. This follows the classical sanctions framework that limits Lukoil’s wider operations in Europe.
