Summary
President Trump implemented sanctions against Russian companies, including Lukoil, to apply financial pressure due to Russia's involvement in Ukraine. As a result, Lukoil agreed to sell its foreign assets, which are valued at approximately $22 billion, to a U.S. investment firm. This move significantly impacts Russia's economy, particularly its energy sector.
Key Facts
- President Trump imposed sanctions on Russian companies Lukoil and Rosneft in October 2025.
- The sanctions block any Lukoil property and interests in the U.S., making them frozen and unusable.
- Lukoil plans to sell its foreign assets, valued around $22 billion, to a U.S. firm.
- Lukoil owns about 200 gas stations in the U.S., mainly in New Jersey, New York, and Pennsylvania.
- Sanctions are part of efforts to reduce Russia's ability to finance its activities related to the conflict in Ukraine.
- Russia’s tax revenue from oil and gas is heavily impacted, expected to drop by 46% compared to the previous year.
- Revenue from oil and gas is a significant part of Russia's federal budget, accounting for roughly one-third of total receipts.
