Russia’s Lukoil Plans to Sell Foreign Assets Amid Sanctions (2)

Lukoil PJSC, Russia’s second-largest oil producer, announced plans to sell international assets after being hit by US sanctions last week.

The company has started considering bids from potential buyers, according to a statement posted on its website late on Monday. The divestment process is being conducted under a wind-down license from the US Treasury’s Office of Foreign Assets Control, which Lukoil said it could ask to be extended “to ensure uninterrupted operations of its international assets.”

Last week, President Donald Trump’s administration slapped sanctions on Russia’s two biggest oil producers — Lukoil and state-controlled Rosneft PJSC — to ...