Russian oil company Lukoil to sell international assets
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Ukraine's long-range strikes on refineries inside Russia have reduced Moscow's oil refining capacity by 20%, Ukrainian President Volodymyr Zelenskyy said, citing intelligence from Western governments.
Oil exports play a key role in funding Russia's invasion of Ukraine and new sanctions from the EU and US aim to cut into Moscow's oil and gas export earnings.View on euronews
The United States imposed sanctions on Russian oil companies Rosneft and Lukoil on October 22, followed by the European Union, which completely banned transactions with both companies the next day.