Trump Sanctions Win as Russian Oil Giant Sells Off Vast Assets

Russian oil giant Lukoil said Monday it will sell off its international assets after new U.S. sanctions targeting Russia's energy sector took effect, marking one of the most significant corporate moves since President Donald Trump's latest measures against Moscow.

The United States announced sanctions last week on Lukoil and Rosneft, Russia's two largest private oil companies, in an effort to tighten financial pressure over the Kremlin's war in Ukraine. Britain followed with its own restrictions, targeting both companies and dozens of so-called shadow fleet tankers accused of helping Russia evade existing limits on oil exports.