US EditionRussia's Lukoil to sell overseas assets after US sanctions
Lukoil plans to sell overseas assets under a U.S. Treasury license after sanctions targeting Russia's oil sector, accounting for about 2% of global oil production.
- Lukoil announced late Monday it will sell its overseas assets, saying, `Owing to the introduction of restrictive measures against the company and its subsidiaries by some states, the company announces its intention to sell its international assets`.
- Last week, U.S. President Donald Trump imposed sanctions targeting Lukoil and Rosneft, which account for 55% of Russia's oil output, adding them to the SDN list.
- Lukoil has already started the bidding process for its international assets following U.S. President Donald Trump's first significant sanctions package last week, Lukoil said.
- Washington gave firms who work with the Russian entities one month to cut ties or face secondary sanctions, freezing all Rosneft and Lukoil assets in the United States and barring U.S. companies from business.
- After a diplomatic flurry this year, Trump scrapped a summit with Putin shortly before sanctions, which Putin called `serious` but insufficient, with efforts to end the war stalled.
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170 Articles
Veli-Pekka Tynkkynen, a professor of Russian environmental policy, reminds us that Gunvor exported Russian oil to the world for a long time.
Major Russian oil producer Lukoil is selling its foreign assets to oil trader Gunvor. In doing so, the Russian company is bowing to recently announced US sanctions related to Russia's wartime aggression in Ukraine.
A week after the announcement of new sanctions against Lukoil, the Russian oil company is selling all its foreign assets. The buyer is the Swiss oil trader Gunvor. Lukoil also operates in the Netherlands. Last week, the United States introduced a new package of sanctions against the Russian oil sector following the collapse of talks between Trump and Putin. The new sanctions, among other things, ban Lukoil from trading in the US and freeze its a…
Due to the US sanctions, the Russian oil company Lukoil sells its international investments. There is a billion-dollar investment in a Vienna holding company.
Lukoil sells global assets to Gunvor following US sanctions
Lukoil, Russia’s second-largest oil producer, has agreed to sell its international operations to Swiss-based commodity group Gunvor. The decision follows new US sanctions aimed at curbing Russian oil exports and tightening pressure on the Kremlin over its invasion of Ukraine. Lukoil confirmed it had accepted Gunvor’s offer for its foreign subsidiary Lukoil International GmbH. The company said it would not engage in talks with other potential buy…
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