Russia's Lukoil talks to potential foreign buyers about its assets

Lukoil, Russia's second largest oil producer, said it was in talks on Friday with potential buyers for its foreign assets after sanctions were imposed by the UK and US last month and a deal made with Gunvor Trading House collapsed.

The specific deal would be announced once the final agreements had been reached and all regulatory approvals obtained.

The company wants to maintain the operation of assets even after they are sold and transferred to new owners. It will also save jobs and avoid disruptions to energy supply and work in the countries where it is present.

Last month, the Office of Foreign Assets Control of the U.S. Treasury announced a new program.

The following are some of the sanctions that may be imposed on you

Targeting Russia's biggest oil producers, Lukoil, and Rosneft to increase pressure on Russian President

Vladimir Putin

Ending Moscow's military

Campaign to Encourage the Use of Alternatives

In Ukraine.

OFAC issued a general license that allowed companies to conclude their business transactions with Lukoil by November 21, including the acquisition of international assets owned by the oil company headquartered in Moscow.

Gunvor, a Swiss commodities trader, had been contracted to sell the Russian company's international assets. But that deal fell through.

collapsed

The U.S. Treasury had indicated that it was against the bill earlier this month. (Reporting and editing by Olesya A. Astakhova, Vladimir Soldatkin)

(source: Reuters)