Lukoil's Iraq Oil Field Crisis: Force Majeure & Sanctions
Update: 2025-11-10
Description
Force Majeure Declared at Lukoils Iraqi Oil Field: Iraq Freezes Payments, Lukoil Warns of Potential WithdrawalIn a significant development, Russian oil giant Lukoil has declared force majeure at the West Qurna-Two oil field in Iraq due to sanctions imposed by Western countries. Iraq has responded by freezing all payments to Lukoil, and the company has warned of potential withdrawal from the project, which could significantly impact Iraqs oil production.
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