A US licence allowing negotiations over the sale of Lukoil’s international assets expires on Saturday, but Bulgaria’s petrol stations and the Balkans’ largest refinery are not expected to stop operating. US sanctions are pushing the Russian oil group to divest itself of its international assets, including the Burgas refinery, but no sale has yet been agreed.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. Saturday’s deadline applies to General License 131G, issued by the US Treasury’s Office of Foreign Assets Control (OFAC). It permits negotiations over the sale of Lukoil International, the Vienna-based holding company that owns refineries in Burgas and Ploiești, as well as a stake in an Iraqi oilfield. The licence covers talks, due diligence and contingent contracts. Any completed sale would require separate approval from Washington, subject to three conditions: Lukoil must fully relinquish control, the proceeds must be placed in a blocked account under US jurisdiction, and the company must receive no windfall. US investment fund Carlyle has been considered the leading bidder since January for a portfolio that analysts value at around $22 billion. Lukoil has already written down the value of the assets by $19.8 billion, contributing to its first annual loss. If Washington does not extend the licence, negotiations will lose their blanket legal cover. Any subsequent step would then require specific OFAC authorisation.