Lukoil Announces Intention to Sell International Assets Due to Sanctions

Moscow, October 27. Interfax reported that Lukoil announced its intention to sell foreign assets due to the imposition of restrictive measures by several countries. The company has begun reviewing potential bids, as stated in a statement posted on its website. Lukoil informs that due to the imposition of sanctions against the company and its subsidiaries by some states, the company intends to sell its international assets. Deal considerations from potential buyers have begun, according to the message. The sale of assets is being considered within the framework of a license from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) for winding down operations. If necessary, the company plans to apply for an extension of the license required to ensure uninterrupted operations of its international assets, said Lukoil.