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OFAC's Clock Is Ticking on Lukoil's $22 Billion International Portfolio

Alex NavarroSenior Investigative Correspondent

Published August 4, 20269 min read

A stylized hourglass, with the top bulb filled with gold and grey corporate buildings and structures, and the bottom bulb accumulating sand and falling blocks. — Time is running out for Lukoil's international portfolio as OFAC's licensing window shortens. Illustration: MarketIntelLabs

OFAC's Clock Is Ticking on Lukoil's $22 Billion International Portfolio The August 22 deadline signals a sanctions architecture at a decision point The Finding On July 24, 2026, the U.S. Treasury's Office of Foreign Assets Control issued the eighth iteration of a Russia-related general license that has kept Western parties legally inside the deal process for Lukoil International GmbH since November 2025. General License 131H authorizes negotiations and contingent contracts for the sale of LIG and its majority-owned subsidiaries through 12:01 a.m. EDT on August 22, 2026.

The Carlyle Group signed a non-exclusive agreement with Lukoil to acquire LIG in January 2026. As of the GL 131H issuance da…

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