Russian energy firm Lukoil has announced plans to sell its international assets after the US imposed sanctions on the company and its subsidiaries.
The firm said it has started considering bids from potential purchasers. The sale process is being carried out under a wind-down licence issued by the US Office of Foreign Assets Control (OFAC), and Lukoil plans to apply for an extension if needed to ensure uninterrupted operations of its international holdings.
The move follows sweeping US sanctions announced recently targeting Russia’s two largest private oil producers, Lukoil and Rosneft, under Executive Order 14024.
The measures block US persons from dealing with the companies and restrict access to dollar-based transactions, financing, and shipping insurance — forcing affected firms to restructure or divest overseas assets.
