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US sanctions, Russian oil giant puts assets abroad on sale

2025-10-27 20:44:20Kosova&Bota SHKRUAR NGA REDAKSIA VOX
US sanctions, Russian oil giant puts assets abroad on sale
Lukoil

Russian oil giant Lukoil will sell its overseas assets, the company said late Monday, after being hit by US sanctions over the war in Ukraine.

US President Donald Trump last week hit Russia with his first significant package of sanctions, targeting two major oil companies, Lukoil and Rosneft, after saying he was frustrated that Moscow had not stopped its offensive.

"Due to the introduction of restrictive measures against the company and its subsidiaries by several states, the company announces its intention to sell its international assets," Lukoil said in a statement.

She added that the bidding process has already begun.

After a diplomatic storm this year and the first direct talks between Russia and Ukraine in more than three years, efforts to end the war have stalled with few signs of progress.

Shortly before the sanctions were imposed, Trump had canceled a planned summit with Russian President Vladimir Putin, who said the measures were "serious" but not enough to crush the Russian economy, which is already under numerous international restrictions.

The sanctions would freeze all assets of Rosneft and Lukoil in the United States and prohibit American companies from doing business with them.

The two companies, which account for 55% of Russia's oil production, were also placed on the SDN list of sanctioned entities, a register followed by many countries and feared in the business world.

Washington gave firms working with Russian entities a month to cut ties or face secondary sanctions, which would deny them access to American banks, traders, carriers and insurers.


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