07.12.2025 10:50
Due to the war with Ukraine that has been ongoing for 4 years, the Russian-based fuel giant Lukoil, which has faced significant sanctions, is expected to be sold by December 13 according to the laws. Austrian businessman Bernd Bergmair has officially applied to purchase the giant company, which has over 600 branches in Turkey.
After the United States tightened sanctions against Russian energy companies, Austrian businessman Bernd Bergmair officially applied to the Treasury Department to purchase Lukoil's foreign assets.
"A VALUABLE PACKAGE THAT EVERYONE WOULD WANT TO OWN"
It was reported that Bergmair, known in the past as the owner of Pornhub through MindGeek and who transferred his shares in 2023, did not disclose which parts of the Lukoil portfolio he was interested in. However, the investor described Lukoil International GmbH as "a valuable package that everyone would want to own."
DEADLINE DECEMBER 13
Lukoil is allowed to conduct transactions related to foreign assets until December 13, according to U.S. regulations. Following the tightening of sanctions, the Russian energy giant had to rapidly reduce its overseas positions. Lukoil also has more than 600 branches in Turkey.
INTENSE INTEREST IN LUKOIL
According to a report by Reuters, investor interest in Lukoil's assets is quite high. It is noted that Exxon Mobil has shown interest in the West Qurna-2 field in Iraq, and large funds like Carlyle are closely monitoring the process. However, the fact that the Russian company wants to sell its assets as a single package is considered a major factor complicating negotiations. It is stated that not only Western investors but also Kazmunaigaz from Kazakhstan and energy groups in Bulgaria and Romania are evaluating the possibilities of acquisition. Additionally, it has been reported that the Moldovan government is considering the possibility of purchasing Lukoil's infrastructure in the country.
The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department has temporarily relaxed some sanctions against Lukoil. With the new license published by OFAC, the sale, operation, maintenance, and closure of products at the company's fuel stations outside of Russia have been freed until April 29, 2026.