Oil Next attempt: Lukoil plans sale to US firm Carlyle
The Russian oil company Lukoil, which is subject to US sanctions, is planning to sell its foreign business to the US investment firm Carlyle. A contract has been signed, but is subject to the approval of the US financial authorities, Lukoil announced.
29.01.2026, 11:09
SDA
According to Lukoil, the business in Kazakhstan is to be excluded from the sale to Carlyle. At the same time, negotiations are being held with other potential buyers. Carlyle has not yet issued a statement.
Sale to Switzerland failed
Last October, US President Donald Trump's administration imposed sanctions against the major Russian oil companies Rosneft and Lukoil in order to pressure Moscow to end the war in Ukraine. An attempt by Lukoil to sell its foreign assets to the Swiss commodities trader Gunvor subsequently failed.
The US Treasury Department vetoed the deal because one of Gunvor's founders was Russian businessman Gennady Timchenko, a confidant of Kremlin leader Vladimir Putin. However, Timchenko withdrew from the company back in 2014.
US investment firm
The new potential buyer, The Carlyle Group, based in Washington, is one of the largest investment firms in the world and, according to its own figures, manages assets worth 474 billion US dollars.
Lukoil's foreign operations include hundreds of petrol stations in around 20 countries, including in the EU, and several refineries. The Russian company is also involved in production projects in the former Soviet republics of Azerbaijan, Kazakhstan and Uzbekistan, as well as in other countries.
