The United Kingdom's Office of Financial Sanctions Implementation (OFSI) issued a general license on Thursday, delaying sanctions on Lukoil International GmbH, a subsidiary of Russia's PJSC Lukoil Oil Company, until February 26, 2026, APA reports.
The UK designated the energy company under the Russia (Sanctions) (EU Exit) Regulations 2019 on October 15, with the financial sanctions previously set to take effect on November 28, just before midnight, before the OFSI issued the exemption. However, the UK Treasury reserved the right to vary, revoke, or suspend the general license at any time.
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