Russian Oil Giant Lukoil to Divest International Assets Following US Sanctions Over Ukraine Conflict

Oct 28, 2025 05:54 am CST

Russian oil company Lukoil has begun the process of selling its international assets after being targeted by US sanctions related to the Ukraine war. The sanctions, imposed by President Trump, freeze Lukoil's US assets and prohibit American companies from doing business with the energy giant, which along with Rosneft accounts for 55% of Russia's oil production. Companies working with these Russian entities have one month to cut ties or face secondary sanctions.