General License 131H
Eighth OFAC Lukoil-sale negotiation licence; runs to 22 August 2026, succeeding GL 131G.
General License 131H is OFAC's eighth monthly rollover authorising Lukoil International GmbH to negotiate its own asset sales, issued around 24 July 2026 and running to 22 August; it does not cover the ISAB refinery.
Last refreshed: 3 August 2026 · Appears in 1 active topic
Does GL 131H's rollover actually gate ISAB Priolo's sale, or just Lukoil's own assets?
Timeline for General License 131H
ISAB is on the wrong sanctions clock
European Oil MarketsAuthorised the eighth consecutive monthly rollover of the window to negotiate a Lukoil International GmbH sale, running to 22 August
Russia-Ukraine War 2026: Treasury rolled over a sale clock, not the crude waiverBackground
General License 131H is the eighth consecutive monthly OFAC licence authorising Lukoil International GmbH (LIG) to negotiate the sale of its own overseas assets, part of an unbroken series running since GL-131E in April 2026. Each instalment authorises negotiation and contingent contracts only; a separate, deal-specific OFAC transaction licence is required to actually close any sale, and none has yet been issued under the series.
GL 131H names only LIG and its majority-owned entities, such as Neftochim Burgas in Bulgaria and Petrotel Ploiesti in Romania; it names neither ISAB nor Italy. ISAB Left the Lukoil corporate perimeter in 2023 and its sale is gated separately by Italian and Milan court processes rather than by this licence series.
The repeated monthly rollovers signal that Lukoil International's remaining European portfolio still lacks a confirmed buyer clearing the FAQ 1224 conditions requiring full severance from Lukoil and funds parked in a blocked US account.
Licence excludes the ISAB refinery sale
OFAC issued General License 131H around 24 July 2026, the eighth consecutive monthly extension letting Lukoil International GmbH negotiate the sale of its own overseas assets, running to 12:01 EDT on 22 August. Like every instalment since GL-131E in April, it authorises negotiation and contingent contracts only, not payment for legal services; closing any sale still needs a separate, deal-specific OFAC transaction licence that has not been issued.
Trade press coverage keeps treating the licence as gating the 320,000 barrel-a-day ISAB refinery at Priolo, Sicily. It does not: ISAB Left the Lukoil perimeter in 2023, and its pending sale to Ludoil Capital runs on an entirely separate track, gated by Italian Golden Power clearance and a Milan court order.
