Bulgaria has secured a six-month extension of a U.S. sanctions waiver covering certain Lukoil entities in the country, a move the government said would help preserve fuel market stability amid global energy turbulence.
The waiver, issued by the U.S. Treasury’s Office of Foreign Assets Control, extends authorisation for certain transactions involving Lukoil entities in Bulgaria until Oct. 29, replacing the previous licence ahead of the April 29 deadline.
Bulgaria’s Energy Ministry said the extension was important for ensuring predictability in the fuel sector, including operations linked to Lukoil Neftochim Burgas, Lukoil Bulgaria, Lukoil Aviation Bulgaria and Lukoil Bulgaria Bunker.
Energy Minister Traycho Traykov said the new delay was significant for market stability, while the ministry warned that without the waiver Bulgaria could face severe disruption in refining, storage and fuel supplies.
The government said the decision came amid heightened instability in global energy markets and argued that failure to extend the waiver could have triggered serious economic and logistical strain in Bulgaria and the wider region.
The U.S. also extended a broader waiver allowing Lukoil retail stations outside Russia to keep operating until Oct. 29, as Washington seeks to maintain pressure on Moscow while limiting disruption to energy markets.