The UK has changed the license terms for Lukoil International

The UK government has amended the terms of the general license of Lukoil International GmbH, which owns Lukoil's foreign assets. This was announced on June 19 by the press service of the British Financial Sanctions Authority.

"On June 19, 2026, amendments were made to the General License, canceling the restriction set out in clause 4.2. This amendment does not allow the return of funds to PJSC Lukoil," the statement on the website says.

In the previous version of the license, it was noted that Lukoil International or its subsidiaries are entitled to receive income from the sale of assets only if funds are transferred to a frozen account or in the absence of direct or indirect control from Lukoil. These restrictions have now been lifted, but it is emphasized that funds from the sale of assets should not flow directly to Lukoil.

Mistress of pressure: UK introduces new sanctions against Russia

The list will include vessels for the transportation of liquefied natural gas

On May 29, the US Treasury Department extended the general license allowing certain operations related to Lukoil's foreign assets. The new validity period of the permit is set until June 27, 2026. The decision concerns the ability to negotiate, agree on terms and conclude contracts within the framework of the possible sale of the foreign division of Lukoil International GmbH, as well as related maintenance operations.

Prime Minister Keir Starmer, during his speech in parliament on May 20, said that the UK had imposed a ban on services for the maritime transportation of liquefied natural gas (LNG) from the Russian Federation. Starmer added that the British authorities have also introduced two short-term licenses that will help them gradually adopt new anti-Russian sanctions without prejudice to fellow citizens.