Lukoil has received an offer from Geneva-based Gunvor Group to acquire its subsidiary Lukoil International GmbH, which holds the company’s overseas assets.
The Russian oil firm said it has accepted the offer and will not enter talks with other potential buyers.
The transaction remains subject to several conditions, including obtaining permission from the US Office of Foreign Assets Control (OFAC) and other relevant authorities.
Lukoil said the planned sale stems from restrictive measures imposed on the company and its subsidiaries by certain countries.
The company had announced plans to sell its international assets after the US imposed sanctions on the company and its subsidiaries.
