Russian energy giant Lukoil has announced plans to sell its international assets following the latest round of US sanctions targeting the company and fellow oil major Rosneft. The decision was confirmed in an official statement published on Lukoil’s website, outlining that the sale will take place under a cease-and-desist license issued by the US Treasury’s Office of Foreign Assets Control (OFAC).

The company noted that, if required, it intends to request an extension of this license to ensure the uninterrupted operation of its international businesses during the transition period. The announcement follows the decision by US President Donald Trump on October 22 to impose sweeping sanctions on both Lukoil and Rosneft, citing Russian President Vladimir Putin’s alleged lack of “honesty and transparency” in talks related to the war in Ukraine.

Meanwhile, EU Energy Commissioner Dan Jorgensen arrived in Bulgaria today for discussions with Energy Minister Zhecho Stankov. His visit includes an inspection of the progress on Lot 3 of the Vertical Gas Corridor project, the section between Rupcha and Vetrino.

Jorgensen’s trip follows his participation in a high-level ministerial meeting in Romania focused on regional energy connectivity in Central and Southeastern Europe. In Sofia, talks are expected to address the potential impact of the US sanctions on Bulgaria’s energy system and the measures the country may adopt to safeguard its energy stability amid the changing geopolitical landscape.