LONDON, November 14. /TASS/. The United Kingdom has lifted sanctions on two Bulgarian subsidiaries of Lukoil, according to a general license issued by the UK’s Office of Financial Sanctions Implementation.

The exemptions apply to Lukoil Bulgaria and Lukoil Neftochim Burgas.

The general license is valid until February 14, 2026. According to the document, the license authorizes the conduct of commercial activities related to Lukoil Bulgaria and its subsidiaries, including making payments under any existing or new obligations or contracts, providing or receiving economic resources in connection with such activities, and processing payments.

On November 14, a law on the administrative regulation of economic activity related to oil and petroleum products entered into force in Bulgaria, effectively introducing external management over Lukoil’s assets in the country. From the moment a special administrator is appointed, the current management of the Lukoil Neftochim Burgas refinery, as well as the shareholders and capital owners, lose the right to make decisions or dispose of the company’s shares and funds. Administrative acts issued by the special administrator are not subject to administrative or judicial review.

In response to the restrictions imposed on October 15 against Rosneft and Lukoil, the Russian Embassy in the United Kingdom stated that such actions by London threaten to destabilize international energy markets.