The UAE's International Holding Company (IHC) said on Friday it is exploring the possibility of purchasing Lukoil's foreign assets.
IHC, the UAE's largest company by market capitalisation, told The National that it is in talks with the US Treasury Department's Office of Foreign Assets Control (Ofac) regarding its interest in the Russian energy company's international assets.
News of IHC's interest in Lukoil's foreign assets was first reported by Reuters.
The Financial Times reported on Friday that private equity company Carlyle and the oil company Chevron are also part of a range of groups interested in the Russian company's foreign assets. Carlyle and Chevron did not return The National's requests for comment.
Lukoil's overseas assets are on the market after the US placed heavy sanctions on the Russian oil company last month in response to M
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