Lukoil's overseas network struggles as Western sanctions take effect
Photo: Dmitry Shishkin/InfoTEK
Russian oil giant Lukoil is facing difficulties maintaining operations at its large overseas businesses, as Western sanctions hinder oil loadings in Iraq, pump stations in Finland, and trading activities in Switzerland, News.Az reports citing Reuters.
The United States and the United Kingdom last month imposed sanctions on Russia's second-largest oil company, complicating how it carries out its normal operations.
The U.S. Treasury Department issued a licence giving companies until November 21. to wind down any transactions with Lukoil and number-one producer Rosneft.
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