Lukoil Dissolves International Board as Sanctions Get Underway

Russian energy giant Lukoil PJSC dissolved the supervisory board of its international business, the latest sign of how US sanctions — the first of which begin on Friday — are affecting the firm.

As part of the dissolution, the Moscow-based firm “recalled” Sergei Kochkurov, chief executive officer of the parent company, as well as Evgeny Khavkin and Gennady Fedotov. The step, taken during an Oct. 28 board meeting, was posted by Lukoil International GmbH on Austria’s corporate register on Friday.

The US Treasury’s Office of Foreign Assets Control announced on Oct. 22 that it was sanctioning Lukoil and ...