Lukoil subsidiary shuts down its fuel stations in Finland

Teboil, Lukoil’s subsidiary in Finland, has announced the closure of its fuel stations across the country.

“The company is preparing to wind down its operations, and stations will be closed gradually as fuel stocks are depleted,” Caliber.Az quotes the company’s press service as saying on its website.

The company also noted that cash payments at stations ended on 31 October. Customers were informed that if they see the number “3888” displayed at a station, it indicates that the corresponding grade of fuel has run out.

Teboil is the second-largest fuel-station operator in Finland.

The trigger for the shutdown is the imposition of US sanctions on Lukoil, imposed in October 2025 in response to Russia’s war in Ukraine, which have severely disrupted deliveries and payment flows for its subsidiaries.

Under the sanctions regime, the US Treasury’s Office of Foreign Assets Control (OFAC) designated Lukoil and warned that companies dealing with its subsidiaries may themselves face penalties.

Because of these restrictions, Teboil reports that new fuel deliveries have been suspended, and some stations are already out of certain fuel grades.

In addition, Lukoil, through Teboil, is now pursuing a sale of its Finnish fuel-retail business, with ongoing negotiations and an expected ownership change. 

By Jeyhun Aghazada