UK extends licence allowing transactions with Lukoil's Bulgarian subsidiaries

The United Kingdom has extended until October 29 the general license allowing transactions with the Bulgarian subsidiaries of Lukoil. The license issued by the Office of Financial Sanctions Implementation (OFSI) at the UK's Treasury covers Lukoil Bulgaria, Lukoil Neftochim Burgas, Lukoil Aviation Bulgaria and Lukoil Bulgaria Bunker.

• Bulgarian Lukoil companies receive special license from UK

The extension until October 29 this year was requested by the Bulgarian side in order to align the validity period with the U.S. license, the Bulgarian Ministry of Economy said.

Lukoil owns the oil refinery in Burgas as well as a network of around 500 petrol stations across Bulgaria and was sanctioned over its support for Russia’s war against Ukraine. The decision allows the companies to continue their operations despite the sanctions imposed by the UK and the United States.

Edited by Ivo Ivanov

Translated by Kostadin Atanasov