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Lukoil sells overseas assets to Gunvor amid sanctions, pending U.S. approval.
Russia’s Lukoil has agreed to sell its international assets to Switzerland-based Gunvor Group, a move driven by Western sanctions and geopolitical pressures.
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.
While financial terms were not disclosed, the sale reflects Lukoil’s shift toward focusing on domestic activities amid international isolation.
Gunvor, which has severed ties with Russian crude trading, aims to expand its global footprint through the acquisition.
The transaction remains conditional on final clearances and is expected to close in the coming months.
Lukoil vende activos en el extranjero a Gunvor en medio de sanciones, a la espera de la aprobación de los Estados Unidos.