Lukoil has started considering bids from potential buyers, according to a company press release
Russian oil major Lukoil has announced plans to divest its foreign assets following the imposition of Western sanctions on the company and its subsidiaries.
Lukoil, along with Russia’s other major oil producer, Rosneft, was targeted by US sanctions announced last week by President Donald Trump, which followed similar UK sanctions against the two firms. The announcement triggered a spike in global oil prices.
Under a US Treasury license, the two companies are allowed to complete ongoing operations until November 21.
Lukoil is Russia’s second-largest…
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