Lukoil

Rule Changes

Under US SDN sanctions since October 2025

The Group of Seven industrialized nations and their allies have tried since late 2022 to curb Russia’s oil income by capping the price of its seaborne crude, using their dominance in shipping and insurance to keep barrels flowing while limiting revenue for the Kremlin’s war in Ukraine. In February 2026, the European Union and United Kingdom began enforcing a reduced cap of 44.10 dollars per barrel under a dynamic mechanism that adjusts every 22 weeks to stay 15% below average market prices for Russia’s Urals crude, but the United States has so far kept its own 60‑dollar ceiling in place.

Updated Mar 7

Money Moves

Selling virtually all international assets under US and UK sanctions pressure

First the US froze Lukoil’s assets. Now it’s effectively forcing Russia’s biggest private oil company to auction off its global business. A fresh Treasury waiver gives buyers until January 17, 2026 to lock in deals for oilfields, refineries and thousands of gas stations worth about $22 billion.

Updated Dec 11, 2025