The European Commission is conducting an assessment of the potential sale of Russian Lukoil's assets in the EU.
The European Commission (EC) is conducting an assessment of the potential sale of Russian Lukoil's assets in the countries of the European Union (EU). This decision was announced by EC representative Olof Gill.
At the end of October, the U.S. Treasury imposed the first sanctions against Russia since Donald Trump returned to the presidency. The measures affected oil exports — Lukoil was added to the U.S. SDN List. The Russian oil and gas company announced its intention to sell all foreign assets.
"On this issue, we are in contact with Bulgaria and all member states to understand the full implications of the proposed sale of Lukoil's international assets. At this time, we cannot say more," Gill stated.
Portfolio manager at Alpha Capital Dmitry Skryabin and managing partner at Kasatkin Consulting Dmitry Kasatkin believe that the actual value of Lukoil's stakes in foreign enterprises reaches $10 billion.
Lukoil owns three oil refineries in EU countries, a network of gas stations in 20 countries, and oil production facilities in Austria and Finland. The company is also involved in the development of fields in Azerbaijan, Kazakhstan, and Uzbekistan, as well as projects in Egypt, Cameroon, Nigeria, Ghana, and Mexico.
