Lukoil signs deal with U.S. firm to sell international assets pending Treasury approval

Lukoil's press service reported the information.

"PJSC Lukoil announces that it has signed an agreement with American investment company Carlyle for the sale of LUKOIL International GmbH (a 100% subsidiary of PJSC LUKOIL that owns the Group's international assets)," the statement reads.

At the same time, the Russian company's assets in Kazakhstan will remain in its ownership and "will continue their operations under the relevant license."

"The signed agreement is not exclusive for the company and is subject to certain preconditions, such as obtaining the necessary regulatory approvals, including approval from the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department for the deal with Carlyle," Lukoil emphasized.

• On October 22, the U.S. Treasury Department imposed sanctions against Russia's two largest oil companies — Rosneft and Lukoil — due to Moscow's refusal to end the war in Ukraine.
• Russian oil company Lukoil announced on October 27 that it intends to sell its foreign assets due to "restrictive measures by certain states."
• The United States renewed a license that allows negotiations and preparation of deals regarding the sale of international assets of the sanctioned Russian oil company Lukoil until February 28, 2026.