🔗 Share this article Forced Divestment of Russian Oil Giant Holdings Ahead of US Sanctions Take Effect Overseas oil refineries and additional holdings of Russia-based firm Lukoil are appealing to prospective purchasers as the window closes to strike cheap deals before US sanctions are implemented on 21 November. Worldwide Asset Sales The Kazakh state firm KazMunayGas is considering a purchase for Lukoil's holdings within Kazakhstan, according to sources familiar with the matter. Shell has expressed interest in Lukoil's deepwater assets in Ghana and Nigeria, various insiders reported. Government Takeovers Moldovan authorities has initiated discussions to acquire Lukoil's facilities at Moldova's main air terminal. Bulgaria is pursuing taking over and auctioning Lukoil's Bulgarian oil plant, although government officials have demanded revisions to the draft bill. In Egypt, Lukoil has suggested to the government its consideration to liquidate holdings, according to industry observers. Corporate Challenge The company confronts either divesting holdings and having the revenue subject to seizure, or assumption by international governments if it refuses to liquidate. Energy analysts indicate Lukoil may try to follow Russian oil firm Rosneft, whose three German refineries were put under external management in 2022. War Situation Moscow's forces seized several communities in the southern Ukrainian territory of the conflict area. Dense fog enabled invading forces to infiltrate Ukrainian positions, with Kyiv's troops engaged in gruelling battles to defend their positions. Humanitarian Crisis At Huliaipole, where the situation had worsened significantly, senior citizens described life-threatening conditions. Aerial dangers rendered normal life impossible Medical supply deficits affected vulnerable populations Limited access to water worsened the situation Government Reactions Urban administrator the former boxer has proposed the country to boost its fighting numbers by adjusting the threshold of conscription. Foreign officials have addressed the power industry corruption in Ukraine, describing it as deeply concerning and stressing the importance for immediate action. Ministerial Dismissals National leader the administration has acted to address growing public outrage by dismissing cabinet members allegedly connected in a major graft operation. The president also demanded targeted measures against the alleged organiser of the scheme, who allegedly escaped overseas before authorities could perform a property inspection.