Russian oil company Lukoil, subject to U.S. sanctions, announced on the 29th (local time) that it has agreed to sell overseas assets to U.S. investment company Carlyle.
Lukoil, Russia's second-largest oil company, announced in a statement today that it has signed an agreement with Carlyle regarding the sale of Lukoil International GmbH. Lukoil International GmbH is a 100% subsidiary of Lukoil that owns overseas assets of the Lukoil Group.
However, it added that Kazakhstan project assets will continue to be owned and operated by Lukoil.
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Reuters reported that experts estimate the value of Lukoil International GmbH at approximately $22 billion (approximately 31.5 trillion won).
Lukoil owns stakes in refineries in Europe, oil fields in Iraq and Kazakhstan, and operates 5,300 gas stations in 20 countries.
In October last year, the United States imposed sanctions on major Russian oil companies including Lukoil and Rosneft to pressure the end of Russia's 'special military operation' in Ukraine.
Subsequently, Lukoil, which pursued the sale of overseas assets, agreed to the sale with Swiss-based commodities trader Gunvor, but the deal fell through after the U.S. Treasury Department refused to approve it, calling Gunvor a 'Kremlin puppet.'
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The U.S. criticizes when other countries try to profit, but gets a pass when they themselves do.
