Lukoil to Sell International Assets After US Sanctions, EU Energy Chief in Bulgaria for Talks

Russian energy giant Lukoil has announced plans to sell its international assets following the latest round of US sanctions targeting the company and fellow oil major Rosneft. The decision was confirmed in an official statement published on Lukoil’s website, outlining that the sale will take place under a cease-and-desist license issued by the US Treasury’s Office of Foreign Assets Control (OFAC).

The company noted that, if required, it intends to request an extension of this license to ensure the uninterrupted operation of its international businesses during the transition period....