US and Russia Discuss Lukoil Assets

Russia and the United States are discussing the future of foreign assets held by sanctioned Russian oil producer Lukoil. The talks follow a meeting between President Vladimir Putin and US envoy Steve Witkoff in St. Petersburg.

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Cars queue to refuel at a Lukoil fuel station in Moscow, Russia, August 17, 2026. REUTERS/Anastasia Barashkova

Russia and the United States are discussing the future of international assets held by sanctioned oil producer Lukoil, Kremlin aide Yuri Ushakov said on Wednesday evening. The talks follow a meeting between Russian President Vladimir Putin and US envoy Steve Witkoff in St. Petersburg. The discussions address the $22B portfolio after potential buyers pulled back from acquisition plans.

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