Contents tagged with Lukoil

  • US Congress prepares to deal new blow to Russian economy

    The lull in sanctions which Russia enjoyed during US Congress’s interim elections and government shutdown is now coming to an end.

    After the four-month break, Congress is once again discussing new measures that can be taken against Russia. The possibilities range from a ban on investments in Russian government debt to a complete disconnection of Russian government banks from the global dollar transaction system.

    Congress’s first hearings following its elections will be held on 12 February in …

  • Washington introduces new restrictions on companies dealing with Russian oil industry

    The US Department of Treasury updated Directive No. 4, originally introduced in 2014, as part of the sanctions against Russia due to the conflict in Ukraine. Restrictions against Russian oil companies have been extended to future projects on developing recoverable oil outside Russia.

    The new sanctions law (CAATSA -Countering America’s Adversaries Through Sanctions Act), signed by US President Donald Trump on August 2nd, required the amendment of this directive. The amendments had to be made by …

  • Media: US sanctions force Russia’s oil giant Lukoil to sell its distributor Litasko

    Lukoil, the largest private oil company in Russia is studying the possibility of selling Litasco, its trading unit in Switzerland, because the new package of sanctions imposed by the US against Russia will make it more difficult to attract new funding, Reuters reported referring to informed sources.

    "One of the reasons for the sale is sanctions. And the sale will also allow them to divert a large amount of working capital from trading to mining projects in Russia," a high-ranking source in the …