(MENAFN) Russian energy giant Lukoil revealed its intention to divest its international holdings in response to the latest sanctions imposed by the United States and the United Kingdom, the company stated on Monday.

“PJSC Lukoil announces that, due to the introduction of restrictive measures by a number of countries against the company and its subsidiaries, the company is announcing its intention to sell its international assets,” the announcement said, noting that it has already started reviewing offers from prospective buyers.

The firm explained that the sale of assets is being conducted under a wind-down license granted by the Department of the Treasury's Office of Foreign Assets Control (OFAC), which permits restricted transactions for a specified timeframe.

Lukoil also mentioned that it might request an extension of this license “to ensure the continued operation of its international assets.”

Recently, Washington imposed blocking sanctions on Lukoil and Rosneft, as well as 34 of their subsidiaries, under President Donald Trump’s latest measures targeting Russia’s energy sector.

The UK government followed suit, adding Lukoil to its sanctions list in mid-October.

Following the sanctions, Lukoil’s market capitalization fell dramatically last week, wiping out nearly $3.7 billion in value.

Analysts cautioned that these restrictions could further weaken Russia’s energy exports while intensifying challenges in logistics and pricing.

MENAFN28102025000045017167ID1110258518