Lukoil says this move is a direct result of “restrictive measures” introduced by certain states (i.e., sanctions).
These sanctions have forced Lukoil to rethink its international footprint and divest major overseas holdings.
While key terms of the deal are agreed, the binding agreement still depends on regulatory approvals — including clearance from the U.S. Office of Foreign Assets Control (OFAC) and other jurisdictions.
Under U.S. licensing rules, companies have until November 21 to wind down transactions with Lukoil under the new sanction framework.
Asset value
$10-12B
20-30%