A worker at an oil platform operated by Lukoil at an oil field in the Baltic Sea on Sept. 16, 2021. Vitaly Nevar/Reuters
Russian oil company Lukoil said it plans to sell its international assets after sanctions imposed by the Trump administration targeted the company and fellow Russian energy giant Rosneft in a bid to pressure Russia into ending the war in Ukraine.
The company announced the decision on Oct. 27, saying that the move was a response to “restrictive measures” imposed by several countries, including the United States. The sanctions—announced by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Oct. 22—froze Lukoil’s assets in the United States and barred U.S. companies and individuals from doing business with the company and its subsidiaries.
