The United Kingdom has granted a sanctions waiver for several major international oil and gas projects involving Russian companies Lukoil and Rosneft in Azerbaijan and Kazakhstan.
According to the UK Treasury, which officially added both companies to its sanctions list on Wednesday, the exemption applies until October 14, 2027.
The waiver covers projects of strategic importance for regional energy security, including the Caspian Pipeline Consortium (CPC), TengizChevroil, Shah Deniz, the South Caucasus Pipeline (Baku–Tbilisi–Erzurum), the Azerbaijan Gas Supply Company, and Karachaganak.
The decision aims to ensure the uninterrupted operation of key trans-Caspian and Eurasian energy routes that supply both European and Asian markets.
Analysts note that the UK move underscores the pragmatic balance between enforcing sanctions against Russia and maintaining global energy stability, particularly in projects where multiple international stakeholders – including British and American corporations – hold shares.
