Russian oil company Lukoil has reached a preliminary agreement to sell its overseas assets to U.S. investment firm Carlyle, RIA Novosti reported, citing Lukoil.
The deal covers LUKOIL International GmbH, a wholly owned subsidiary of PJSC Lukoil that holds the group’s foreign assets. The transaction does not include assets in Kazakhstan, which will remain owned by the Lukoil group and continue operating under the relevant license.
As Vedomosti reports, the transaction can be finalized only if several conditions are met. Necessary regulatory approvals are required - in particular, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) must authorize the deal with Carlyle. The agreement with Carlyle is not exclusive, and Lukoil continues talks with other potential buyers.
In October 2025, the United States imposed sanctions on Lukoil and six of its subsidiaries. The company then decided to sell its foreign assets. On January 14, the U.S. Treasury extended through February 28 the license authorizing transactions to sell Lukoil’s overseas assets.
