Treasury Department has given Russian energy company Lukoil an additional 45 days to sell its overseas assets as part of ongoing efforts to limit Russia’s revenue streams.

The Office of Foreign Assets Control (OFAC) issued an extension under General License 131B, aimed at supporting divestment of Lukoil’s foreign holdings while continuing to restrict funding for Moscow.

U.S. authorities said they are closely monitoring Lukoil’s attempts to sell its assets to buyers outside the sanctions regime to ensure that negotiations are conducted in “good faith.” Any proposed transaction will be evaluated based on U.S. national security and foreign policy objectives, the Treasury added.

Lukoil, Russia’s second-largest oil producer, was sanctioned on October 22, 2025, under directives from then-President Donald Trump to increase pressure on the country’s energy sector. The company remains a key target in Western efforts to curb financial resources for Russia’s military operations.

The Treasury frequently updates its licensing terms to balance the impact on global energy markets while maintaining economic pressure on the Kremlin, officials noted.