Carlyle Group Poised to Acquire Lukoil's Overseas Assets Amid Sanctions Tension

U.S. firm Carlyle Group is set to acquire most of Lukoil's international holdings as the Russian oil giant complies with U.S. sanctions. The deal, pending U.S. approval, comes amid ongoing negotiations to resolve the Russia-Ukraine conflict. Valuation details remain undecided, with several other buyers showing interest.

U.S.-based Carlyle Group has signed an initial agreement to purchase most of Lukoil's overseas assets, prompted by U.S. sanctions against the Russian company. The announcement comes as negotiators from Russia, Ukraine, and the U.S. continue efforts to resolve the ongoing conflict in Ukraine.

The deal excludes assets in Kazakhstan and awaits approval from the U.S. Office of Foreign Assets Control. The Treasury Department had set a deadline of February 28 for Lukoil to divest its global portfolio. However, the terms of the sale, including valuation, have not yet been finalized.

While Carlyle focuses on operational continuity and asset stabilization, other potential buyers, including Exxon Mobil and Chevron, have also expressed interest. The Kremlin has reiterated its opposition to Western sanctions, though it considers the divestiture a corporate matter.