BUSINESS

Russian oil company Lukoil to sell international assets in response to Trump sanctions

Russian oil giant Lukoil said it will sell its international assets after U.S. President Donald Trump imposed sanctions aimed at forcing a Ukraine ceasefire. The company is already in talks with buyers and plans to complete deals during a grace period allowing transactions until Nov. 21, seeking an extension if needed. The penalties, which also hit Rosneft, threaten secondary sanctions on foreign banks and complicate sales to India and China. Treasury Secretary Scott Bessent urged Moscow to agree to a ceasefire, while Germany has taken custody of Rosneft’s Schwedt refinery stake.

Reviewed by JQJO team

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