The Trump administration has extended until October 29 the deadline for Lukoil to sell its overseas gas stations, according to a statement posted on the US Treasury website on Tuesday, Reuters reports.

Lukoil has about 2,000 gas stations in Europe, Central Asia, the Middle East, North and South America. Lukoil is one of the main fuel retailers in the Republic of Moldova and Bulgaria and operates about 600 gas stations in Turkey and more than 300 in Romania.

Lukoil was included in the list of entities sanctioned by the US in October 2025, which attracted the interest of potential buyers for the international assets of the Russian oil giant, estimated at 22 billion dollars, according to Agerpres.

The US Treasury also issued a license allowing certain transactions with Lukoil refineries in Bulgaria, including Lukoil Neftohim Burgas JSC.

The US Treasury’s Office of Foreign Assets Control (OFAC) said last year that the proceeds from any sale of Lukoil assets would have to be placed in an account under US jurisdiction, with the funds frozen until sanctions against Lukoil were lifted.

Lukoil’s net losses last year, calculated according to international financial standards, amounted to 1,059 billion rubles ($12.386 billion) due to sanctions imposed by the Trump administration.

This is a huge difference from the results of 2024, when the Russian oil company closed the year with a net profit of 851.5 billion rubles ($9.959 billion).

Lukoil’s revenue fell last year to 3.767 trillion rubles ($44.057 billion), down from 4.420 trillion rubles ($51.695 billion) in 2024.

The change in dynamics was due to US sanctions against major Russian oil companies, which are forcing Lukoil to sell its assets abroad.