UPDATE 1-US extends deadline on talks over Lukoil assets to May 30

​The U.S. Treasury Department on Wednesday extended by about a month a deadline for energy ‌companies to strike deals to buy foreign assets of Russia's second-largest oil producer Lukoil, according to a post on its website.

​The U.S. Treasury Department on Wednesday extended by about a month a deadline for energy ‌companies to strike deals to buy foreign assets of Russia's second-largest oil producer Lukoil, according to a post on its website. The deadline has ‌been pushed to May 30 from May 1.

In February, the ‌Trump administration slowed the sale of Lukoil's international assets, valued at about $22 billion, as part of efforts to pressure Russia in Ukraine peace talks. The U.S. ⁠has ​now extended the ⁠deadline about five times since imposing sanctions in October on Lukoil and state-owned Rosneft ⁠for the role their revenues play in supporting the more than four-year ​war in Ukraine.

The sanctions forced the sale of Lukoil’s international portfolio, ⁠which includes oilfields, refineries and gas stations from Iraq to Finland. The process ⁠has ​attracted interest from more than a dozen bidders, ranging from U.S. oil major ExxonMobil to the former owner of Pornhub. Any ⁠deal must ensure that Lukoil receives no upfront payment, with all proceeds ⁠placed in ⁠a frozen account under U.S. jurisdiction. Transactions also require final approval from the Treasury Department's Office of Foreign ‌Assets ‌Control.