Through these measures, U.S. President Donald Trump aims to pressure Russia into ending the war. Lukoil has announced its intention to sell its international assets due to “the imposition of restrictive measures against the company and its subsidiaries by certain countries.” According to the company, the bidding process has already begun.
Previously, the United Kingdom imposed sanctions on Lukoil and Rosneft. Additionally, it sanctioned 44 so-called shadow fleet tankers, which primarily consisted of older vessels with unclear ownership. These types of ships are often utilized to circumvent oil sanctions.
Outgoing Prime Minister Dick Schoof recently stated that he believes the European Union should mirror the sanctions imposed by the U.S. and the United Kingdom on oil companies to further increase pressure on Russian President Vladimir Putin.
The oil and gas sector accounts for approximately one-fifth of Russia’s GDP, making it crucial for financing the Russian war effort.
Last week, the European Union adopted a sanctions package that includes a ban on LNG imports, restrictions on diplomats, and measures targeting banks.
