Carlyle to acquire Lukoil's overseas business under US sanctions deadline

2026-01-29 - 10:31

Carlyle Group has reached a provisional agreement to acquire the international assets of Russian oil firm Lukoil, following increased pressure from US sanctions introduced in October. The deal, announced by both parties, excludes Lukoil's operations in Kazakhstan and is subject to regulatory approval from the US Department of the Treasury’s Office of Foreign Assets Control (OFAC). Lukoil has until 28 February to comply with a US directive requiring the divestment of its overseas assets.