Lukoil is seeking buyers for asset sales following sanctions.

Lukoil Sells Its International Assets

One of the leading companies in the oil sector, Lukoil, has taken action to sell its international assets following its inclusion in the U.S. sanctions list. The company aims for its facilities to operate continuously during this process, thus striving to continue providing energy supply.

Negotiations with Potential Buyers Are Ongoing

In a statement made by Lukoil, it was emphasized that negotiations are ongoing with several potential buyers regarding the international asset sale process. The company announced that these agreements would be made public after final settlements are reached and necessary legal approvals are obtained.

The Background of U.S. Sanctions and the Sale Decision

U.S. President Donald Trump announced on October 23 an initiative regarding sanctions against Russia's second-largest oil producer Lukoil and its affiliates in the peace process in Ukraine. Following the sanctions, Lukoil announced the sale of its international assets on October 27. The company stated on October 30 that it reached an agreement with Gunvor for the sale; however, the U.S. Department of the Treasury indicated that it had no intention of granting a license for this sale. Gunvor announced that it had withdrawn its offer.