The Trump administration has extended the deadline for energy companies to acquire the international assets of Lukoil until June 27, 2026.

The Trump administration announced an extension of the deadline for energy companies to finalize agreements for the acquisition of Lukoil's international assets, the second largest oil producer in Russia, until June 27, 2026.

Lukoil was sanctioned by the U.S. in October 2025, which generated interest from potential buyers, including ExxonMobil. Since the imposition of sanctions, the U.S. has extended the deadline several times, and Lukoil's revenues have drastically decreased, recording net losses of 1.059 trillion rubles (approximately $12.4 billion) last year, compared to a net profit of 851.5 billion rubles in 2024. The sale of Lukoil's assets will require funds to be placed in an account under U.S. jurisdiction, frozen until the sanctions are lifted. This dynamic reflects the severe impact of U.S. sanctions on major Russian oil companies.