Russian oil giant Lukoil issued a statement on Monday saying it would sell many of its international assets spread out across 11 different countries under intense pressure from President Donald Trump’s latest round of sanctions.
Trump announced sanctions last week targeting Lukoil and Rosneft, Russia’s two largest oil companies, plus a long list of their subsidiaries. The Treasury Department said the sanctions were intended to “degrade the Kremlin’s ability to raise revenue for its war machine and support its weakened economy.”
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