Why lukoil Is Trending Today?

Russian oil giant Lukoil has agreed to sell its international assets, including those in Iraq and Romania, to Swiss commodity trader Gunvor. The deal comes after Lukoil faced sanctions imposed by the United States. Gunvor, a giant in the commodities trading sector with Soviet roots and ties to Russian President Putin, has emerged as the buyer of Lukoil's assets. The transaction is valued at over €19 billion.

Friedrich Merz, a prominent German politician, expects the U.S. to exempt Rosneft's German unit from sanctions, with Berlin actively seeking this exemption. The U.S. has recently imposed sanctions on Russian firms Rosneft and Lukoil, leading to a 5% surge in oil prices. These sanctions have also prompted China and India to curb their Russian oil purchases, while Russia's President Putin has criticized the move. The German Economy Ministry believes the sanctions won't affect Rosneft's German subsidiaries. Meanwhile, Indian company Reliance has announced it will halt crude imports from Rosneft following the U.S. sanctions.

US President Trump has imposed sanctions on Russian oil companies Rosneft and Lukoil, aiming to pressure Russia to halt its military actions in Ukraine. The move has led to a significant increase in global oil prices, with crude oil jumping by over 2%. The sanctions target Rosneft, Russia's largest oil producer, and Lukoil, another major Russian oil company. The US has also canceled a planned meeting between Trump and Russian President Putin. Meanwhile, the UK has issued a general license for dealings with German-managed Rosneft refineries, providing guidance on how to comply with Russia-related sanctions.