U.S. sanctions against the Russian oil giants “Rosneft” and “Lukoil,” which were supposed to take effect on November 21, have been postponed. These restrictions were introduced on October 22 by the U.S. Department of the Treasury and cover 34 companies linked to these energy corporations.
Source: Bukvy
The sanctions were intended to force Russia to “immediately” agree to a ceasefire against Ukraine. After they were announced, “Lukoil” stated its intention to sell its international assets. The company Gunvor attempted to purchase them, but Washington called it a “Kremlin puppet,” after which the deal collapsed.
The administration of U.S. President Donald Trump decided to extend the sanctions exemptions until December 13. This gives “Lukoil” additional time to sell its international assets without violating the restrictions.
Despite the postponement, the U.S. Treasury notes that the imposed sanctions are already reducing Russia’s oil revenues. The restrictions are expected to cause a long-term decrease in the volume of Russian oil exports, further increasing economic pressure on the Kremlin.
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