The Russian oil company «Lukoil» intends to sell its foreign assets in connection with the sanctions imposed by the US, EU, and UK. The company reported that they have started reviewing applications from potential asset buyers.
The sale will be carried out strictly within the framework of the license from the US Treasury's Office of Foreign Assets Control, which allows for the winding down of foreign operations. If necessary, «Lukoil» is ready to apply for an extension of this permission.
Sanctions against «Lukoil», «Rosneft», and 34 of their «subsidiaries» were imposed on October 23. The US Treasury Department noted that the sanctions against «Lukoil» and «Rosneft» are intended to «increase pressure on the Russian energy sector and reduce the Kremlin's ability to generate revenue for its military machine and support the weakened economy».