OFSI extends the Lukoil International General Licence to Feb 2027, expanding covered subsidiaries and adding notification requirements while keeping sanctions and asset-freezing restrictions in place

OFSI amended its Russia sanctions general licence on 12 August, broadening the definition of covered Lukoil International subsidiaries, introducing a new notification requirement for entities using the licence and extending its duration by six months. A related licence covering Lukoil’s Bulgarian businesses was also amended, with revised ownership-and-control definitions, new notification requirements and an extension until 29 October 2026…