UK extends general license for Lukoil operations in Bulgaria

The UK Office of Financial Sanctions Implementation (OFSI) has extended the general license allowing business operations with Lukoil group entities in Bulgaria until February 26, 2027. The decision, made on October 28, covers several entities, including Lukoil Bulgaria EOOD, Lukoil Neftochim Burgas AD, Lukoil Aviation Bulgaria EOOD, and Lukoil Bunker Bulgaria EOOD.

The extension permits payments for existing or new obligations and contracts, as well as the provision and receipt of economic resources related to the companies' activities. This measure is intended to ensure the security of crude oil supplies and the continuous operation of the Lukoil Neftochim Burgas refinery.

Bulgarian Deputy Prime Minister and Minister of Economy, Investment and Industry Alexander Pulev stated that the extension resulted from active government-level dialogue involving President Rumen Radev and discussions with British partners and the UK Embassy in Sofia. Pulev emphasized the importance of British insurers, who cover over 90% of the tankers delivering crude oil, in maintaining the supply chain.