Britain Grants Temporary Sanctions Exemption for Bulgarian Lukoil Units

Britain has introduced a temporary exemption that permits continued business with two Bulgarian subsidiaries of the sanctioned Russian oil group Lukoil. The general license, issued by the UK Financial Sanctions Enforcement Office, enables companies and financial institutions to conduct transactions with Lukoil Bulgaria EOOD and Lukoil Neftochim Burgas AD, along with their affiliated firms. The authorization, which took effect on November 14, 2025, is valid until February 14, 2026, and allows the transfer of payments and economic resources under both existing and newly signed contracts.

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