In a significant move driven by escalating geopolitical tensions, Russian oil giant Lukoil has announced the sale of its international assets. This decision comes in response to stringent sanctions imposed by the U.S. government, aimed at compelling Russia to agree to a ceasefire in its ongoing conflict with Ukraine. The sanctions, announced by President Donald Trump on October 22, target Lukoil and Rosneft, Russia’s two largest oil companies, which collectively account for approximately half of the nation’s oil exports. Oil and gas revenues are a critical pillar of the Russian economy, making these sanctions particularly impactful.
Russian oil company Lukoil to sell international assets in response to Trump sanctions
