Lukoil’s Fire Sale and the New Era of Sanctions-by-Ownership ...Middle East

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Lukoil’s Fire Sale and the New Era of Sanctions-by-Ownership
Even as geopolitical developments, such as Venezuela and Iran, are making headlines, another major energy-related issue is currently being unwound. At present, the fire sale of Russian oil and gas giant Lukoil’s empire is ongoing, in the only way this can be done for a sanctioned Russian major. The whole deal or process is clearly under a clock set by Washington, based, and inside a legal maze designed by OFAC. The most critical part of it all is that potential buyers are forced to demonstrate that they are not merely acquiring assets but…

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