Lukoil has entered the asset sale process following U.S. sanctions.

Lukoil's Critical Asset Sale Announcement

Lukoil announced in a written statement that it intends to sell its international assets as a result of the sanctions imposed by the USA. This move arose due to the impact of certain restrictive measures on the company's subsidiaries in specific countries.

Market Assessments and Sale Process

The statement included the phrase, "The process of evaluating offers from potential buyers has begun." Lukoil announced its plan to apply for an extension of the permit license provided by the USA to ensure the uninterrupted operation of its international assets.

Sanctions and the Russia-Ukraine War

On October 22, the U.S. Treasury Department added Russia's two major oil companies, Rosneft and Lukoil, along with their subsidiaries, to the sanctions list. It was stated that this step was taken due to Russia's insincerity regarding ending the war in Ukraine.