U.S. Extends Deadline for Sale of Lukoil’s Global Assets Again

The U.S. federal government has extended the deadline for talks between Lukoil and potential buyers of its foreign business by another month, until June 27, suggesting the forced divestment process is turning out to be more complicated than maybe hoped for. This is the sixth extension of the deadline, after the Trump administration imposed individual sanctions on Lukoil last October, forcing the company to start looking for a buyer for its international business, which is worth an estimated $22 billion. The terms of the deal are that the Russian…