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Key facts
Source:UK OFSI (UK HM Treasury, Open Government Licence v3.0)
The Office of Financial Sanctions Implementation (OFSI) has announced an amendment to General Licence INT/2025/7895596. Originally issued on November 14, 2025, under the Russia (Sanctions) (EU Exit) Regulations 2019, the licence provides authorization to continue business operations involving specific Lukoil Bulgaria entities.
The recent updates, effective August 12, 2026, expand the scope of the licence to include two additional companies: Lukoil Aviation Bulgaria EOOD and Lukoil Bunker Bulgaria EOOD. The amendment also modifies the definition of "Their Subsidiaries" to include any non-individual person owned or controlled, directly or indirectly, by Lukoil International.
Further changes to the licence include the introduction of a new definition for an "Entity," defined as any person that is not an individual or a Relevant UK Institution. Along with this new definition, OFSI has implemented a new requirement for any entity operating under the amended licence to provide notification.
The updated general licence has been extended and will remain in effect until October 29, 2026.
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