One of Russia’s two biggest oil producers Lukoil has signed an agreement with US investment firm Carlyle to sell all its international assets. The transfer of assets will be done through Carlyle’s acquisition of Lukoil International GmbH, a 100% subsidiary of Lukoil, which owns international assets of the Russian company. The transaction does not include the assets in Kazakhstan, which will remain under Lukoil’s ownership. The company will continue its operations under the respective license. According to Lukoil, the agreement is non-exclusive and is subject to certain conditions, including obtaining necessary regulatory approvals and permission from the US Department of the Treasury’s Office of Foreign Assets Control (OFAC). The Russian giant added that it will continue negotiations “with other potential purchasers”. The company decided to try to sell Lukoil International GmbH due to “restrictive measures introduced by some countries against the company and its subsidiaries”. This is the second attempt to buy Lukoil’s international assets. The first offer came from Swiss-based commodity trading giant Gunvor in late October last year. It backed away from the intended purchase after receiving pushback from Washington. Gunvor opted to terminate the deal after the US Treasury called it Russia’s “puppet” and stated that Washington opposed the acquisition. The Treasury said on X that Trump “has been clear that the war must end immediately. As long as Putin continues the senseless killings, the Kremlin’s puppet, Gunvor, will never get a license to operate and profit.” Earlier this month, Carlos Slim-owned Mexican conglomerate Grupo Carso bought Lukoil’s stake in the Ichalkil and Pokoch offshore oil fields. Lukoil subsidiary, Fieldwood Mexico, was bought for $270m. Grupo Carso also paid off $330m of Fieldwood’s debt to its parent firm. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsRussia United States