Lukoil's $22 billion asset sale postponed again

For the fourth time, the United States has extended the deadline for companies negotiating with Russia’s Lukoil over the purchase of its foreign assets. The US Office of Foreign Assets Control (OFAC) has this time prolonged the deadline by one month, to 1 May.

The assets are estimated to be worth around $22 billion.

Washington imposed sanctions on both Lukoil and Rosneft last October to limit Russia’s ability to finance the war in Ukraine. The sale of foreign assets is therefore subject to strict scrutiny, and any deal will require OFAC approval.

A number of companies and investors have expressed interest, including US firms Carlyle, Exxon Mobil and Chevron, as well as the Abu Dhabi conglomerate International Holding Company. Austrian investor Bernd Bergmair is also among the interested parties.

At the same time, Donald Trump’s administration is slowing the sale process to increase pressure on Russia as part of the Ukraine peace talks, according to Reuters sources.

(reuters, max)