15:38 - 23.02.2026

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February 23, Fineko/abc.az. Kazakhstan has notified OFAC of the priority right to buy out LUKOIL's stake in joint projects.

ABC.AZ reports that Interfax writes about this with reference to the Ministry of Energy of Kazakhstan.

The Ministry informed that the letter to OFAC was of notification nature.

The Energy Ministry stressed that according to country’s legislation, including Article 43 of the Code on Subsoil & Subsoil Use, the State has a preferential right to acquire a share.

In January of this year, Kazakh Energy Minister Yerlan Akkenzhenov said that the country had sent a request to the Office of Foreign Assets Control (OFAC), regarding the procedure for repurchasing LUKOIL's stake in the joint project. The minister also clarified that possible deal scenarios do not necessarily involve the use of funds.