Lukoil Navigates Sanctions with Foreign Asset Sales

Lukoil, Russia's second-largest oil producer, is negotiating the sale of its foreign assets following sanctions from the UK and the US. The company plans to maintain operations and secure energy supply while ensuring job preservation during the transition to new ownership.

Lukoil, Russia's second-largest oil producer, announced on Friday it is in discussions with potential buyers for its international holdings. This move follows the UK and US sanctions imposed last month.

The company noted that a formal announcement regarding specific deals will be made once final agreements are reached and approvals secured.

Lukoil aims to ensure the uninterrupted operation of its assets during this transition, maintaining energy supply and safeguarding jobs in affected regions.

(With inputs from agencies.)