TBILISI, November 3 – Swiss-based trading company Gunvor has agreed to purchase the foreign assets of Russian oil major Lukoil, according to Reuters via BPN. The deal comes just days after the United States imposed sweeping sanctions on Lukoil, Rosneft, and dozens of their subsidiaries. Lukoil said in a statement that it had received and … Read more
TBILISI, October 24 – The U.S. Treasury has clarified that transactions with sanctioned Russian oil companies Lukoil and Rosneft, including their international subsidiaries, will only be permitted until November 21, 2025, under a temporary exemption covering fuel purchases and essential services, BPN reports. The clarification follows Washington’s decision earlier this week to sanction Russia’s two … Read more
TBILISI, October 23 – Georgia’s banks will play by the rules after Washington slapped sanctions on Russia’s two biggest oil producers, Rosneft and Lukoil, and 34 of their subsidiaries. Natia Turnava, president of Georgia’s National Bank, said on Thursday that the country’s lenders “fully observe international sanctions” and that in this case “we will act … Read more
TBILISI, October 16 – The British government has imposed new financial sanctions on Russia’s Lukoil, but the company’s Georgian subsidiary has reported its best results in years, according to recently published financial statements. The sanctions, introduced by the United Kingdom on September 15, target Lukoil’s global operations but make specific exceptions for its participation in … Read more