After the imposition of US sanctions, Russian company Lukoil announced that it was selling its LUKOIL International GmbH (a 100% subsidiary of PJSC Lukoil, which owns the foreign assets of the Lukoil Group) to the American investment company Carlyle. However, the company will retain its assets in Kazakhstan.
The transaction between Lukoil and Carlyle is currently awaiting approval from the Office of Foreign Assets Control (OFAC) of the US Treasury.
On October 22, the US imposed sanctions on two of Russia’s largest oil companies, Rosneft and Lukoil, urging Moscow to immediately agree to a ceasefire in Ukraine. On October 28, Lukoil issued an official announcement of its intention to sell its foreign assets.
Lukoil is one of the largest publicly traded vertically integrated oil and gas companies in the world, accounting for approximately 2% of global oil production and around 1% of proven hydrocarbon reserves.
