Russia's oil giant Lukoil, sanctioned by Washington over the Ukraine war, said Thursday that it would sell its foreign assets to the US investment firm The Carlyle Group. At the end of October 2025, in order to put pressure on Russia's state finances, the United States added Moscow's two largest oil producers, Lukoil and Rosneft, to its blacklist of sanctioned entities. Advertisement AdvertisementAdvertisement AdvertisementLukoil "informs that it signed an agreement with US investment company Carlyle on the sale of Lukoil International GmbH," Russia's second-biggest oil producer said, without disclosing the deal's value. The deal excluded assets in Kazakhstan and will require US Treasury approval, Lukoil said, adding that it was still negotiating with other investors. Advertisement AdvertisementAdvertisement AdvertisementThe US had initially given the oil firm one month to sell the holdings before gradually extending it as negotiations dragged on.