Carlyle Eyes Acquisition of Lukoil's Global Assets Amid Sanctions

U.S. equity giant Carlyle is considering purchasing the global assets of Russian oil company Lukoil amidst U.S. sanctions aimed at pushing Russia into Ukraine peace talks. Carlyle begins preliminary steps, including applying for a U.S. license, though no final decision has been made yet.

U.S. private equity leader Carlyle is assessing the potential purchase of Russian oil giant Lukoil's international holdings as three informed sources confirmed. Amid sanctions targeting Lukoil, meant to pressure the Kremlin into dialogues over Ukraine, the company's asset sale attempts, including to Gunvor, have been stalled.

Lukoil, responsible for about 2% of the world's oil production, has valued its foreign assets at approximately $22 billion. Carlyle is in early discussions to acquire these and is exploring the necessary U.S. licensing requirements, although it remains uncertain," revealed a source.

Despite reaching out to communicate its interests to Lukoil, the final business decision by Carlyle is still pending. With significant operations worldwide, Lukoil has faced operational disruptions due to recent sanctions that impact its activities from Iraq to Europe.

(With inputs from agencies.)