Russian oil major agrees sale of foreign assets to US firm

A deal between the sanctioned Lukoil and Carlyle Group awaits American approval after a prior bid was rejected

Russian oil major Lukoil has said it has agreed to sell most of its international assets to American private equity giant Carlyle Group. The US has targeted Russia’s second-biggest oil producer with sanctions, forcing it to divest its overseas holdings worth $22 billion.

Washington has imposed broad sanctions on the Russian oil sector since the Ukraine conflict escalated in February 2022. Along with oil majors, including Rosneft, Gazprom Neft, Surgutneftegas, and their subsidiaries, the US has banned American firms from deals with…

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