Russian oil company Lukoil said on 27 October that it intends to sell its international assets. The news comes days after the United States imposed sanctions on the company and all its subsidiaries.
“In connection with the imposition of restrictive measures against the company and its subsidiaries from certain countries, the company announces its intention to sell its international assets,” the brief statement said.
It also said the sale will be made pursuant to a licence issued by the US Treasury Department’s Office of Foreign Assets Control (OFAC). If necessary, the company plans to apply for a licence extension to ensure the continued operation of its international assets, the statement added.
“Consideration of offers from potential buyers has begun,” the company said, without providing further details.
“Lukoil is a private company that is among the largest taxpayers in Russia.” Rosneft, a Russian state-controlled company, has also been hit by the sanctions.
The sanctions will come into force on 21 November and, according to experts, will significantly complicate the work of the under-sanctioned companies, as all their counterparties and the banks that serve them are threatened by the US measures.