OFAC issues Russia-related GL 131H and updates FAQs 1224 and 1225

OFAC issued Russia-related General License 131H replacing and superseding General License 131G (dated June 25, 2026) in its entirety. The license continues to authorize transactions ordinarily incident and necessary to negotiating and entering into contingent contracts for the sale of Lukoil International GmbH ("LIG") and its majority-owned entities, as well as transactions necessary to the maintenance or wind-down of LIG Entities' operations, subject to the same restrictions on unblocking property, RuHSR-prohibited transactions, and fund transfers to Russia. The key-change is that 131H extends the authorization deadline from July 25, 2026 (under 131G) to August 22, 2026: a 28-day extension, with no other substantive changes to the license's terms. Additionally, OFAC updated associated FAQs 1224 and 1225.