The US administration has not yet given final approval for the transfer of oil assets from the Russian company "Lukoil" to the American investment group "Carlyle." The deal is valued at $20 billion and includes the refinery in Bulgaria, the Romanian enterprise "Petrotel," and a 45 percent stake in the "Zeeland" refinery in the Netherlands, the British publication "Financial Times" reports, citing sources familiar with the negotiations.

The proposed deal covers operations in 17 countries. The Committee on Foreign Investment to the United States (CFIUS) has already given its consent, but the final word rests with the administration of President Donald Trump. Negotiations have been ongoing for nearly 10 months, and the review process involves not only the White House and the National Security Council, but also the State Department and the US Department of Energy.

Carlyle claims that finalizing the agreement will allow for increased gasoline and diesel production in European refineries and will reduce tension in the global fuel market. "There is significant unused refining capacity in Lukoil's European assets, which could contribute to additional supply of refined products to the market and ease pressure on fuel prices," the investment company stated in a position. According to Carlyle, following the signing of a conditional agreement earlier this year, a decision regarding the future status of the enterprises is expected.

The three European refineries have a combined capacity of approximately 400,000 barrels of oil per day. However, Romania's "Petrotel" has not been operational since last year due to scheduled maintenance. An independent source for the publication, familiar with the progress of the negotiations, indicates that closing the deal would allow for the commissioning of an additional 100,000 to 150,000 barrels of daily capacity.

The delay in the procedure coincides with fuel shortages, particularly diesel. The reasons for this are the conflict in the Middle East and Ukraine's attacks on Russian refineries. This is further driving up prices in the United States and Europe.

Sanctions against "Lukoil" were imposed by Washington last October as part of the pressure on Moscow due to the war in Ukraine. It was these measures that separated the company's foreign operations from the Russian parent company. Earlier, US authorities rejected an attempt by the trading firm "Gunvor" to acquire the same assets. In March of this year, Lukoil reported an impairment of approximately $20 billion in the value of its international business.

The foreign asset portfolio also includes nearly 3 billion barrels of proven and probable oil and gas reserves, with production of approximately 250,000 barrels per day. Another source for the publication believes that the uncertainty regarding the future owner is hindering investment in these enterprises.

US authorities have extended the temporary licenses that allow operations to continue despite the sanctions on several occasions. The latest deadline expires on October 22 — almost a year after Carlyle began negotiations to acquire the assets.

The topic of the deal came to the forefront again this week. Congress passed a bill introduced by Senator Lindsey Graham. Its goal is to increase pressure on the Russian energy and defense industries. The document gives the president the right to impose tariffs of up to 100 percent on countries that purchase Russian oil and gas.

The White House and the US Department of the Treasury are currently declining to comment on the matter.