Iraq Seeks Temporary Exemption from U.S. Sanctions on Lukoil
November 17, 2025364 VistasTiempo de lectura: 2 minutos
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According to a report by "Reuters," citing Iraqi energy officials, the Iraqi government is pursuing a six-month exemption from U.S. sanctions imposed on Russian oil company Lukoil. This exemption aims to prevent disruptions to Lukoil's operations at the West Qurna 2 oil field.
Officials, who requested anonymity, indicated that the Iraqi Oil Ministry has ruled out the possibility of Baghdad purchasing Lukoil's stake in the project, stating that the scale and management of the field exceed the capabilities of state-owned enterprises. One official remarked:
"Lukoil's field is a large bite that is difficult to swallow."
Potential Buyers for the Russian Stake
Sources indicate that Iraq is aware of three potential buyers for Lukoil's stake in the field, including one Chinese company and two Western firms, although their identities remain undisclosed.
During today's meeting between Prime Minister Mohammed Shia al-Sudani and former Lukoil CEO Vagit Alekperov, the issue of the sanctions exemption was a key focus.
Background on the Sanctions
The U.S. sanctions were imposed last October as part of a broader package by the administration of former President Donald Trump targeting companies such as Rosneft and Lukoil due to the conflict in Ukraine and the lack of political resolution. Lukoil is seeking to divest its foreign assets to circumvent these sanctions, while the U.S. Treasury extended the deadline for the company by an additional three weeks in mid-November to secure investors for its assets.
