Moscow-headquartered Lukoil has said that it is going to start selling its overseas assets due to sanctions imposed on the company, the Russian oil major was cited as saying by Russian state media.

“The company announces its intention to sell its international assets. The consideration of bids from potential purchasers has been started,” Lukoil informed in a statement on Monday as per a report in TASS.

The sale of the assets is conducted under the winddown license from the US OFAC (Office of Foreign Assets Control).

The measure, Lukoil said, was taken owing to “introduction of restrictive measures against the Company and its subsidiaries by some states.”

The U.S. Office of Foreign Assets Control has imposed a deadline of Nov. 21 for the company to wind down its businesses abroad or fac

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