Nearly US$24 billion: Russia's Lukoil estimates losses from foreign asset disposals

Viktor Volokita - 20 March, 12:44

Russia’s Lukoil estimates losses from foreign asset disposals. Photo: Getty Images

Russia's Lukoil has fully written off its stake in Lukoil International GmbH – the group's overseas business. The company estimated impairment losses at RUB 1.7 trillion (US$26 billion)

Source: Russian media outlet Kommersant, citing Lukoil in financial statements under IFRS (International Financial Reporting Standards) for 2025

Details: Lukoil recorded a net loss of RUB 1.06 trillion (US$12.6 billion) in 2025, factoring in the discontinuation of part of its assets, after posting a net profit of RUB 851.5 billion (US$10 billion) a year earlier.

Background:

In October 2025, the United States imposed sanctions on Lukoil, after which the Russian company decided to sell its foreign assets.
On 29 January, Lukoil reached a tentative agreement to sell its overseas assets to the American investment company Carlyle.

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