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flag U.S. extends deadline to April 1, 2026, for negotiations on selling Lukoil’s $22B foreign assets, with no deals finalized and proceeds frozen.

flag The U.S. has extended the deadline for negotiations on selling Russian oil company Lukoil’s foreign assets—valued at $22 billion—to April 1, 2026, marking the third delay since sanctions were imposed in October. flag The extension, confirmed by an OFAC document, allows continued talks without authorizing final transactions, with proceeds frozen under U.S. jurisdiction and no upfront payments to Lukoil. flag Senior officials from the Treasury, State Department, and White House are now more involved, including Treasury Secretary Scott Bessent. flag Over a dozen bidders, including ExxonMobil, Chevron, and Saudi Midad Energy, are engaged, though no deals are finalized. flag The timing coincides with stalled peace talks and reports of a proposed $12 trillion economic deal involving Lukoil assets, though the White House and other agencies have not linked the extension to diplomacy.

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