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Financial Crime, Russia, Sanctions, US

NEWS: Russia’s Lukoil, under sanctions, agrees to sell $22 billion assets to US Carlyle Group

A Lukoil sign is seen at Abu Dhabi International Progressive Energy Congress (ADIPEC), in Abu Dhabi, United Arab Emirates, October 2, 2023. REUTERS/Amr Alfiky

By Vladimir Soldatkin and Olesya Astakhova

LUKOIL had agreed to sell most of its foreign assets, estimated to be worth around $22 billion, to U.S. private equity firm Carlyle Group pending approval from the U.S. government, Russia’s number two oil producer has said.

Under U.S. sanctions because of Russia’s actions in Ukraine, the U.S. Treasury had given Lukoil until February 28 to sell its global portfolio.

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