US Extends Lukoil Foreign Asset Negotiations Deadline

The US Treasury Department has extended the license allowing Lukoil to conduct negotiations and contract sales for its foreign assets until May 30. This extension follows previous restrictions on the company's international operations. Russian Finance Minister Anton Siluanov noted that the Russian budget currently depends on oil and gas revenues for approximately one-fifth of its funding. Siluanov stated that the state must maintain reserves for at least three years to account for unpredictable oil prices and allow companies to reorient in the global market. The US Treasury Department has reported the conclusion of contracts for the sale of Lukoil's foreign assets. The United States has issued separate permissions for the sale of international assets belonging to the oil company Lukoil.