Lukoil has agreed to sell its foreign assets to the U.S. private investment firm Carlyle Group

Russian oil company Lukoil has agreed to sell its foreign assets to the U.S. private investment firm Carlyle Group, Reuters reports.

According to Lukoil, the deal involves the sale of Lukoil International GmbH, a subsidiary that manages the company’s foreign assets. The agreement does not include Lukoil’s assets in Kazakhstan.

“The agreement is subject to certain conditions, including approval by relevant regulatory authorities, specifically the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC),” the company said.

For context, in October 2025, the U.S. imposed sanctions on Russian oil companies Rosneft, Lukoil, and their subsidiaries. The U.S. Treasury gave Lukoil a deadline of February 28 to complete the sale of its foreign assets.

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