UK OFSI issues licence allowing Lukoil Bulgaria entities to continue business

The UK's Office of Financial Sanctions Implementation issued General Licence INT/2025/7895596 permitting continuation of business for Lukoil Bulgaria entities, likely to avoid disruption to energy supply or financial stability. This is a targeted sanctions carve-out, indicating a pragmatic approach to managing Russian-linked assets while maintaining sanctions pressure. The licence's scope and duration are not detailed, leaving uncertainty about its impact on broader sanctions enforcement.

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