OFSI extends its Lukoil Bulgaria licence to 26 February 2027

The UK's Office of Financial Sanctions Implementation (OFSI) extended the general licence that lets people keep doing business with Lukoil's Bulgarian subsidiaries until 26 February 2027, OFSI said in a publication notice on the amendment of 28 October.

General Licence INT/2025/7895596, issued under regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, covers Lukoil Bulgaria EOOD, the Burgas refiner Lukoil Neftochim Burgas AD, Lukoil Aviation Bulgaria EOOD and Lukoil Bunker Bulgaria EOOD, all subsidiaries of PJSC Lukoil, the licence says. The two aviation and bunker units were added on 20 November 2025, six days after the licence was first issued.

Under it, a person may continue business operations involving the four companies and their subsidiaries, including payments under existing or new contracts and the provision and receipt of economic resources. Firms authorised under UK financial services, payment services and e-money rules, recognised clearing houses and payment system operators may process those payments. The licence exempts the acts from the prohibitions in regulations 11 to 17 and 18C of the Russia regulations, and from no other UK sanctions regime.

The notification duty added on 12 August stays in place. An entity using the licence, other than an individual or a Relevant UK Institution (the regulated firms listed above), must give HM Treasury written notice within 14 days of starting, or within 14 days of 12 August if it was already active, with its contact details, and OFSI says a notification is not a confirmation that the activity is permitted.

This is the third extension. The licence first ran to 14 February 2026 and was extended to 13 August, then to 29 October and now to 26 February 2027. The publication notice describes the August change to the definition of subsidiaries by reference to companies owned or controlled by Lukoil International, while the licence text refers to the Lukoil Bulgaria entities; OFSI tells users to read the licence for its full terms. HM Treasury may vary, revoke or suspend the licence at any time, the licence says, and information given to it under the licence is disclosed to third parties only in line with UK data protection law.

In the US, OFAC renewed on 21 October its own licence for contingent contracts for the sale of Lukoil International GmbH, recorded in our second Sanctions and Enforcement Ledger. OFSI's other recent reissue is covered in our brief on its legal services licence.