What is the US government's stance on Lukoil's international business?

The US government has cleared the way for companies to negotiate the purchase of Lukoil's international business before sanctions take effect, but will only approve a deal that permanently severs Lukoil from its global assets.

Who is interested in acquiring Lukoil's overseas assets?

The US private equity group Carlyle has emerged as a potential bidder for Lukoil's international assets, although it has yet to begin due diligence on the company's oilfields, refineries, and petrol stations.

Why is the US government imposing sanctions on Lukoil and Rosneft?

The US government has imposed sanctions on Lukoil and Rosneft, Russia's largest oil producer, as part of efforts to pressure President Vladimir Putin into agreeing to an immediate ceasefire in Ukraine.

Home / Business and Economy / US Clears Path for Lukoil Asset Sale Amid Sanctions

US Clears Path for Lukoil Asset Sale Amid Sanctions

15 Nov, 2025

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Summary

US allows companies to negotiate Lukoil asset purchase
Carlyle emerges as potential bidder for Lukoil's overseas assets
US to block any deal unless Lukoil is permanently severed from international business

US Clears Path for Lukoil Asset Sale Amid Sanctions

In the lead-up to the implementation of sanctions on Russia's second-largest oil producer Lukoil, the US government has taken steps to facilitate the sale of the company's international assets. On November 15, 2025, the US Treasury Department issued a license allowing companies interested in acquiring Lukoil's overseas operations to negotiate with the Russian firm until December 13.

This move comes after the Treasury blocked a previous plan by Gunvor, a Swiss commodity trader, to purchase Lukoil's international business, describing the company as a "Kremlin puppet." Now, the US private equity group Carlyle has emerged as a potential bidder for Lukoil's global assets, although it has yet to begin due diligence on the company's oilfields, refineries, and petrol stations.