Welligence Global | US sanctions bite – LUKOIL to sell international portfolio

October 29, 2025

On 27 October 2025, LUKOIL announced that it is to sell its entire international portfolio. This is the result of US sanctions specifically designed to target Russia’s two largest oil companies, LUKOIL and Rosneft. In terms of ownership of foreign assets, the impact on LUKOIL is greater as it has much larger international footprint than its compatriot.