The ongoing feud between America and Russia is not showing any sign of stopping. Its effect is also visible. The important thing is that the oil companies are suffering losses due to the fight between President Vladimir Putin and President Donald Trump. Russia’s second largest oil company Lukoil has said that it will sell its international assets. Lukoil has taken this strong step.

According to a Reuters report, Lukoil said, “The assets OFAC Being sold under wind down license. If necessary, the company may consider expanding the license application to operate its international assets without any disruption.

Trump had banned two big oil companies of Russia

Lukoil is Russia’s second largest oil producing company. After the Ukraine war that started in February 2022, America imposed many sanctions on Russia. Oil companies are incurring huge losses due to this. For this reason Lukoil has taken this step. Trump had banned Lukoil and Rosneft. These two companies produce 50 percent of Russia’s crude oil.

After US, Britain also took action

After America, Britain also took action against Lukoil and Rosneft. Britain had banned 44 shadow tankers on October 15. These were tankers whose ownership rights were not known. Britain said that this step has been taken to reduce Russia’s earnings from crude oil. America had also said the same thing while banning Lukoil. If we talk about Lukoil’s foreign assets, it has an oil well in Iraq. This is one of the largest oil fields in the world.