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Lukoil receives offer from Gunvor for its foreign assets

30 October 2025 11:47 (UTC +04:00)

PJSC LUKOIL announced that it has received an offer from Gunvor Group Ltd. to purchase LUKOIL International GmbH, a 100% subsidiary of LUKOIL that owns the company’s international assets, APA reports, citing LUKOIL.

The key terms of the potential transaction have already been agreed upon by both parties.

According to the company, LUKOIL has accepted the offer and has committed not to engage in negotiations with other potential buyers.

The final binding agreement will be concluded after certain conditions precedent are met, including obtaining authorization from the U.S. Office of Foreign Assets Control (OFAC) and other necessary licenses, permits, and approvals in relevant jurisdictions.

If required, both parties plan to apply for extensions of existing OFAC licenses and any additional authorizations needed to ensure uninterrupted operations of LUKOIL’s international assets and their banking services until the transaction is completed.

LUKOIL stated that the decision to sell LUKOIL International GmbH comes in response to the restrictive measures imposed by several countries against the company and its subsidiaries.

Note that after the US imposed sanctions on "Lukoil" and "Rosneft", "Lukoil" announced its decision to sell its foreign assets.