Lukoil to Divest International Assets Amidst Western Sanctions Pressure

Lukoil is divesting its international assets due to Western sanctions pressure, highlighting the impact of geopolitical tensions on Russias petroleum sector.

• Lukoil announced on Monday its decision to sell international assets in response to restrictive measures imposed by several states against the company and its subsidiaries.
• The divestment process will be conducted under an OFAC wind down license, with Lukoil considering an extension to maintain uninterrupted operations of its international assets.
• This move follows increasing sanctions pressures that have also affected other Russian oil producers, including Rosneft, amid the ongoing geopolitical climate.