How Lukoil can sell foreign assets after Gunvor's refusal

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to the Vedomosti newspaper on the prospects for the LUKOIL's foreign assets sale after Gunvor's refusal.

In the face of the loss of such a large buyer for all assets as Gunvor, Lukoil will continue to look for buyers, Alexey Belogoryev believes. But after such a rude refusal from the United States, there will be few people willing to buy all the assets in a single package, he notes.

"Such a deal would carry obvious reputational risks. Therefore, they will most likely have to be sold off in parts, which will make the sale process much more complicated and lengthy. Therefore, the licenses of the US Treasury will still be needed," Belogoryev says.