Ushakov: Russia and US discuss Lukoil foreign assets and sanctions among economic projects
In short
Kremlin aide Yuri Ushakov said on 21 October that Lukoil's foreign assets and the sanctions on the company are part of a portfolio of economic projects Russia is discussing with US representatives. Kremlin spokesman Dmitry Peskov said contacts on the sale of the assets continue and called it a commercial deal that cannot be discussed publicly.
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Russia and the United States are discussing the fate of Lukoil's foreign assets as part of a package of economic projects, presidential aide Yuri Ushakov said on 21 October. In an interview with the Vesti information service, an excerpt of which was published on its Max channel, Ushakov said: "We have a very large number of projects in the portfolio from which papers are taken out and discussed with American representatives, and they are large-scale." He added that the question of sanctions on Lukoil is "in the same portfolio, in the same papers that are being discussed." [ 1 , 2 , 4 ]
RIA Novosti and Vedomosti said Ushakov spoke after talks between Vladimir Putin and US special envoy Steve Witkoff; Vedomosti placed the talks in St Petersburg. According to Vedomosti, Ushakov said the economic projects were considered in substance at the meeting but did not disclose details of possible agreements. Vedomosti also reported that Putin said on 21 October that Russia is interested in restoring economic cooperation with the US, and that Witkoff said the discussions already under way show opportunities to expand business ties. [ 2 , 4 ]
Kremlin spokesman Dmitry Peskov also said Russia and the US maintain contacts on the sale of Lukoil's foreign assets, RBC reported, citing his remarks on Channel One. Kommersant wrote that Peskov confirmed Ushakov's information and said the US could extend "without difficulty" the licence that allows the sale of the company's foreign assets. Asked about a possible buyer, Peskov said, "This is a commercial deal, it cannot be discussed publicly," Kommersant said, citing TASS. [ 3 , 5 , 6 , 7 ]
RIA Novosti recalled that the US Treasury imposed sanctions on Lukoil and its subsidiaries in which it holds more than 50% on 22 October 2025, after which the company announced the sale of its international assets. Kommersant wrote that in January 2026 Lukoil reached an agreement to sell its foreign assets to the American investment company Carlyle, and that an American investor has for several months been working on a bid to buy the Russian oil company's international business. [ 2 , 6 ]
On the licences, Kommersant said OFAC keeps extending the licence that covers the operation of the company's foreign assets and that the current permission expires on 22 October. Vedomosti reported that on 15 October OFAC extended to 24 April 2027 licences permitting operations with Lukoil's foreign filling stations and Bulgarian assets. Vedomosti added that on 3 October The New York Times, citing sources, reported that Moscow and Washington were discussing a multibillion-dollar deal tied to the foreign assets in the context of talks on a Ukraine settlement. [ 4 , 6 ]
Why it matters
The statements show that Moscow links the fate of Lukoil's foreign assets to wider economic talks with Washington. No details of any agreement were disclosed, so the outcome remains open.
Key facts
- Presidential aide Yuri Ushakov said the question of Lukoil's foreign assets is among the economic projects Russia and the US are discussing. [ 1 , 6 ]
- Ushakov said the question of sanctions on Lukoil is in the same portfolio of papers being discussed with American representatives. [ 1 , 2 ]
- Ushakov spoke after talks between Vladimir Putin and US special envoy Steve Witkoff. [ 2 , 4 ]
- Dmitry Peskov said Russia and the US maintain contacts on the sale of Lukoil's foreign assets. [ 3 , 5 , 7 ]
- Peskov said the US could extend the licence allowing the sale of the assets 'without difficulty' and that it is a commercial deal that cannot be discussed publicly. [ 6 ]
- The US Treasury imposed sanctions on Lukoil and its subsidiaries in which it holds more than 50% on 22 October 2025; the company then announced the sale of its international assets. [ 2 ]
Confirmed by several sources
- Ushakov said Russia and the US are discussing a portfolio of economic projects that includes the Lukoil sanctions question. [ 1 , 2 , 4 , 6 ]
- Peskov said contacts between Russia and the US on Lukoil's foreign assets are under way. [ 3 , 5 , 6 , 7 ]
- The US Treasury imposed sanctions on Lukoil in October 2025, and the company announced the sale of its foreign assets. [ 2 , 6 ]
Still unclear
- What agreements, if any, are being prepared on Lukoil's foreign assets. Vedomosti said Ushakov did not disclose details of possible agreements.
- Who the buyer of the assets could be. Peskov, asked about a possible buyer, said it is a commercial deal that cannot be discussed publicly.
- Which licence expires on 22 October and how it relates to the licences extended to 24 April 2027. Kommersant said the current licence expires on 22 October, while Vedomosti said OFAC on 15 October extended licences for foreign filling stations and Bulgarian assets to 24 April 2027; the documents do not say whether these are the same licence.
What local media are saying
Timeline, local time
- Interfax published Ushakov's remarks that the Lukoil foreign assets question is among the projects discussed with US representatives. [ 1 ]
- RIA Novosti reported Ushakov's statement on the Lukoil sanctions after the Putin-Witkoff meeting. [ 2 ]
- TASS published Peskov's remarks that contacts between Russia and the US on Lukoil's foreign assets continue; Vedomosti published Ushakov's statement. [ 3 , 4 ]
- RIA Novosti published Peskov's account of contacts on the assets. [ 5 ]
- Kommersant published its report with Peskov's comments on the licence and the commercial deal. [ 6 ]
- RBC reported that Peskov spoke on Channel One about contacts on the sale of the assets. [ 7 ]