US Sanctions Hit Russian Oil Giants, Halting Iraqi Operations
TL;DR
Lukoil has declared force majeure at its West Qurna-2 oil field in Iraq due to U.S. sanctions, halting its operations and risking a complete exit if unresolved within six months, amid failed asset sales and broader energy sector instability.
- Russia’s oil empire stumbles as Lukoil halts output in Iraq under U.S. sanctions pressure Meduza
- Russian oil firm’s multibillion-dollar assets overseas at risk as US sanctions begin to bite CNN
- Exclusive: Lukoil declares force majeure in Iraq over US sanctions, sources say Reuters
- Trump Administration Blocks Gunvor Takeover of Russian Oil Assets - WSJ The Wall Street Journal
- Sanctions Force Lukoil Into Force Majeure at Giant Iraqi Oilfield The Maritime Executive
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