US EditionRussia's Lukoil to sell overseas assets after US sanctions
Lukoil will divest international assets under U.S. sanctions that target 55% of Russia's oil output to limit Kremlin revenue amid the Ukraine conflict.
- 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.
136 Articles
136 Articles
The energy giant's move is the first sign that Trump's measurements are biting. Lavrov: "We won't attack NATO"
US sanctions push Russian oil giant Lukoil to sell off assets
Russia’s second-largest oil producer on Monday said it decided to sell off assets amid wide-reaching sanctions from the United States. “The consideration of bids from potential purchasers has been started,” Lukoil wrote in a statement on its website. The company said it would work to meet the U.S. Office of Foreign Assets Control’s Nov. 21…
The Epoch Times
Zero HedgeRussian Oil Giant Lukoil Selling International Assets After Trump Sanctions
Russian oil major Lukoil said it plans to sell its international assets after sanctions imposed by the Trump administration targeted the company and fellow Russian energy giant Rosneft in a bid to pressure Russia into ending the war in Ukraine. The company announced the decision on Oct. 27, saying the move was in response to “restrictive measures” imposed by several countries, including the United States. The sanctions—announced by the U.S. Trea…
First tangible effect of U.S. and British sanctions on the largest flat of Russian crude. Russia’s second largest oil company, Lukoil, announced last Monday that it will dispose of its assets abroad, including its refineries on European Union soil. Far from public scrutiny, focused on the import of crude oil and gas, these plants have not stopped operating since the beginning of the invasion of Ukraine in February 2022. In a statement, the compa…
New US sanctions are pushing Lukoil's profits. Now the Group wants to sell its foreign assets. What consequences does this have?
Associated Press News
Russian oil company Lukoil to sell international assets in response to Trump sanctions
Lukoil is selling its international assets in response to U.S. sanctions. The sanctions, imposed by President Donald Trump, aim to push Russia toward a ceasefire in Ukraine.
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