Lukoil's Iraq Oil Field Frozen Due to US Sanctions
Update: 2025-11-11
Description
Lukoils Iraqi Oil Operations Halted: US Sanctions Impact Global Energy MarketsThe Iraqi government has terminated its partnership with Russian oil company Lukoil due to US sanctions, affecting the West Qurna-Two oil fields operations. Lukoil, holding a 75% stake, has declared force majeure, unable to pay employees due to sanctions. The US Treasury blocked Lukoils sale of international operations, risking global assets. Iraqi officials suspended crude oil payments to Lukoil, impacting planned shipments and highlighting sanctions global energy market effects.
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