The UK has extended by four months a licence that lets Bulgarian companies in the Lukoil group keep working, Bulgaria's Ministry of Economy, Investment and Industry said. The new deadline is 26 February 2027.

The decision came from Britain's OFSI, the Treasury body that enforces financial sanctions. The licence still allows Lukoil Bulgaria, Lukoil Neftohim Burgas, Lukoil Aviation Bulgaria and Lukoil Bunker Bulgaria to carry on business. This is meant to keep crude oil deliveries and work at the Burgas refinery from running into trouble.

Deputy prime minister and economy minister Alexander Pulev linked the extension to the government's talks, which are led by prime minister Rumen Radev. He also linked it to talks with British partners and the British embassy in Sofia. The licence covers core business, such as crude oil deliveries and insurance for tankers, the minister said.

"British insurers play a major part in the supply chain, as they cover more than 90% of the tankers that deliver crude oil," Pulev said.

He said the companies need to be able to work with British firms and with partners tied to the UK if they are to keep going. Pulev promised the cabinet would stay in close contact with international partners to protect supply security, stability and the interests of Bulgaria's economy and consumers.

The ministry called the decision a step towards stability and predictability for the companies' work in Bulgaria.

Back in mid-October, the US OFAC, the Treasury's Office of Foreign Assets Control, extended for six months its general licence for operations with the same four companies. Pulev then spoke of a series of expert talks with the US side at the National Economic Council at the White House, and of a concrete result in defence of the national interest.

The US licence is valid until 24 April 2027.