In a dramatic turn of events, the Russian oil powerhouse Lukoil is now facing a surge of interest from potential buyers eager to acquire its foreign operations. This shift comes on the heels of a substantial billion-dollar deal with a Swedish billionaire that ultimately fell through.
While Lukoil operates as a privately owned entity, it adheres closely to the directives of the Kremlin. Following suit with its state-owned counterpart, Rosneft, Lukoil finds itself on the sanctions list imposed by both Great Britain and the United States. These sanctions, scheduled to take effect on November 21, will significantly restrict the company’s ability to sell oil abroad, further complicating its already precarious situation.
