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flag Lukoil sells overseas assets to Gunvor amid sanctions, pending U.S. approval.

flag Russia’s Lukoil has agreed to sell its international assets to Switzerland-based Gunvor Group, a move driven by Western sanctions and geopolitical pressures. flag The deal, which involves Lukoil’s overseas operations including refineries and trading networks in Europe and Asia, requires regulatory approvals, particularly from the U.S. Treasury’s OFAC, and may involve extending existing licenses to maintain operations. flag While financial terms were not disclosed, the sale reflects Lukoil’s shift toward focusing on domestic activities amid international isolation. flag Gunvor, which has severed ties with Russian crude trading, aims to expand its global footprint through the acquisition. flag The transaction remains conditional on final clearances and is expected to close in the coming months.

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