The sanctioned Russian oil producer Lukoil has agreed to sell the majority of its international assets to Swiss commodity trader Gunvor (Lukoil press release, 30/10/2025).
- A few days earlier, Lukoil had announced plans to divest its overseas assets following US sanctions imposed over the war in Ukraine (KEI, 29/10/2025).
Gunvor submitted an offer for Lukoil International, which the company has accepted, and has committed not to enter negotiations with other potential buyers.
The transaction is subject to approval by the US Office of Foreign Assets Control (OFAC), according to the company’s statement