Russia’s second-largest oil producer, Lukoil, has agreed to sell the bulk of its international assets – initially valued at $22 billion by analysts – to private equity heavyweight Carlyle, as Western sanctions continue to force a fire sale of Russian energy holdings abroad.

This sanctions-induced fire sale was expected, as the company had first unveiled in late October: “Lukoil informs that owing to introduction of restrictive measures against the Company and its subsidiaries by some states the Company announces its intention to sell its international assets.”

https://www.zerohedge.com/energy/russias-lukoil-sell-bulk-international-portfolio-us-carlyle-group