Russia's largest private oil company, Lukoil, has decided to sell its foreign assets following the US's imposition of restrictive sanctions.
It currently has stakes in oilfield development projects in Azerbaijan, Kazakhstan, Uzbekistan, Iraq, Egypt, the UAE, as well as in Latin America, West and Central Africa.
The company also owns refineries in Bulgaria, Romania, and the Netherlands, as well as a network of gas stations in the European Union. Lukoil's total foreign assets are estimated at around $10 billion, but due to sanctions, they will have to be sold at a 50-70% discount, Izvestia wrote.
