Russian energy company Lukoil said Thursday it has signed an agreement with US investment firm Carlyle for the sale of Lukoil International GmbH, a wholly owned subsidiary that holds the group's international assets.
In a statement, Lukoil said the transaction does not cover its assets in Kazakhstan, which will remain under Lukoil Group ownership and continue operations under respective licenses.
The company noted that the agreement is non-exclusive and subject to a number of conditions precedent, including obtaining required regulatory approvals. These include authorization from the US Department of the Treasury's Office of Foreign Assets Control (OFAC) for the transaction with Carlyle.
Lukoil also said it is continuing negotiations with other potential buyers.
According to the statement, Lukoil International GmbH is being offered for sale due to restrictive measures imposed by some countries against the company and its subsidiaries.
- Sale decision follows US sanctions
US President Donald Trump sanctioned Russia's second-largest oil producer Lukoil and its subsidiaries in October 2025, citing a lack of commitment to peace efforts to end the war in Ukraine.
The measures froze Lukoil's US-based or US-controlled assets and barred US persons from related financial transactions, also extending automatically to entities majority-owned by sanctioned parties.
After the decision, Lukoil, which produces about 2% of global oil supply, said it would sell its international assets, a move seen as one of the most significant responses by a Russian energy company to Western sanctions since the Ukraine war began in 2022.
Reporting by Emre Gurkan Abay in Moscow
Writing by Ebru Sengul Cevrioglu
Anadolu Agency
energy@aa.com.tr