U.S. extends license for Lukoil gas stations until April 2026 despite sanctions.

The U.S. Treasury has extended a license allowing Lukoil-branded gas stations outside Russia to operate until April 2026, despite sanctions on the Russian oil company. The waiver covers roughly 2,000 stations worldwide, including hundreds in the U.S., Europe, and Asia, preventing closures that would disrupt local economies. While stations are independently run, fuel sales still generate revenue linked to Lukoil and indirectly support Russia’s war effort. The extension reflects a pragmatic approach to avoid economic fallout, even as it raises concerns about the effectiveness of sanctions. Some European nations, like Bulgaria, have taken independent action, such as nationalizing Lukoil’s assets. The long-term status of the waiver remains uncertain, depending on evolving policy and geopolitical developments.