(Patria) - Lukoil will begin selling its foreign assets due to sanctions imposed on the company, the Russian oil giant announced, TASS reported.
"The company announces its intention to sell its international assets. Consideration of offers from potential buyers has begun," Lukoil stated.
The sale of assets is being carried out under a production reduction license issued by the US OFAC.
"If necessary, the company plans to apply for an extension of the license to ensure the smooth operation of its international assets," Lukoil added.
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