The United States on Monday extended for the fourth time the deadline for companies to negotiate with the Russian company Lukoil on the purchase of its foreign assets, following sanctions imposed by Washington on the energy company last year. The U.S. Office of Foreign Assets Control has extended the deadline this time by one month, until May 1, for interested companies looking to purchase foreign assets worth around $22 billion. Washington imposed sanctions on Lukoil in October, the second-largest Russian oil producer, and Rosneft, its main producer, to reduce Moscow’s ability to fund its war against Ukraine.
Among the parties interested in these assets are the American private equity company Carlyle, American oil majors Exxon Mobil and Chevron Corp, the Abu Dhabi International Holding Company, and the Austrian investor Bernd Bergmair, former majority owner of an adult entertainment group that includes the website Pornhub.
Any specific agreement reached with Lukoil regarding the assets will need approval from OFAC. The Trump administration has slowed down the sale of Lukoil’s international assets to exert pressure on Russia in peace talks in Ukraine, according to sources cited by Reuters in February.
Context: Lukoil is a Russian energy company facing sanctions from the United States, impacting its negotiations with companies interested in purchasing its foreign assets. Fact Check: Confirmation of the extension of the deadline for negotiations, the value of the assets, and the implications of the sanctions on Lukoil and Rosneft are reported accurately according to Reuters.
