16:19 - 28.10.2025

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October 28, Fineko/abc.az. Lukoil has announced its intention to sell its foreign assets in response to the sanctions imposed by the U.S. and Britain against the company and its subsidiaries.

ABC.AZ informs that the sale will take place in accordance with the OFAC license, allowing the curtailment of foreign operations until November 21, 2025, with the possibility of applying for an extension if necessary.

The company said it had already begun reviewing offers from potential buyers.

Lukoil owns projects in a number of countries, including Kazakhstan, Uzbekistan, Azerbaijan, Iraq, Cameroon, Nigeria, Ghana, as well as refineries and a network of gas stations in Europe, the U.S. and several other countries.

Sanctions against Lukoil and Rosneft were imposed by the U.S. Treasury Department on October 22, 2025 and affected all companies where the share of these organizations exceeds 50%.

The main purpose of the sale is to ensure the smooth operation of international assets during the duration of the sanctions regime.