Russia's Lukoil Plans Sale International Assets Amid Western Sanctions

Russian oil giant Lukoil has announced its intention to sell its international assets due to sanctions imposed by the United States and other countries amid the war in Ukraine. The U.S., under President Donald Trump, imposed significant sanctions targeting Lukoil and Rosneft, freezing their U.S. assets and barring American companies from doing business with them. The sale of Lukoil's assets is being conducted under an OFAC wind-down license, with the company prepared to seek an extension to ensure uninterrupted operations. These sanctions followed frustrations over Russia's military actions in Ukraine and stalled peace negotiations, with Trump citing a lack of transparency from President Vladimir Putin. Despite the sanctions, Putin has stated they are serious but will not cripple the Russian economy, calling them attempts at pressure. Britain has also targeted Lukoil and Rosneft in its own sanctions aimed at cutting Kremlin revenue.