Overview
- Iraq’s state marketers froze payments and stopped crude loadings from the Lukoil-operated West-Qurna-2 field, prompting the company to declare force majeure.
- The U.S. Treasury blocked a proposed sale of Lukoil assets to Gunvor, labeling the trader a Kremlin puppet, and Gunvor withdrew its offer.
- Financial Times reporting puts roughly $14 billion of Lukoil’s foreign holdings at risk as the firm races to divest before the deadline.
- Reuters reports partners are rushing Lukoil’s overseas assets and that the company dismissed its non-Russian foreign employees by email.
- Bulgaria’s parliament voted to place Lukoil’s Burgas refinery under state control to safeguard domestic fuel supply.