Lukoil Engages in Talks to Sell International Assets Ahead of U.S. Sanctions

Bloomberg reported on Friday that Russian oil company Lukoil is currently in discussions with interested parties regarding the sale of its international assets, just ahead of impending sanctions that the U.S. plans to impose on the company.

This initiative is part of Lukoil's strategy to mitigate the potential impact of U.S. sanctions, which could directly affect its operations abroad.

Lukoil ranks among the largest oil companies in Russia, with significant investments across various countries, making the divestment of some international assets a viable option to alleviate expected economic and political pressures.

This development underscores the escalating tensions between Moscow and Washington, particularly in light of increasing Western sanctions on the Russian energy sector since the onset of the war in Ukraine.