US extends sanctions waiver for Russian oil giant Lukoil until 2027

The US Treasury Department on Thursday extended a sanctions waiver for Russian oil giant Lukoil, allowing its service stations outside Russia to continue operating until April 2027. The extension allows Lukoil-branded petrol stations in countries including the United States to continue serving customers until 24 April 2027, replacing an earlier licence due to expire later this month. However, the latest licence maintains restrictions on the "transfer of funds to any person or account located in the Russian Federation". The decision comes a week after US President Donald Trump announced an agreement with Russia to supply diesel to US and global markets, prompting the Treasury to issue a temporary licence to facilitate deliveries.