U.S. investment firm The Carlyle Group Inc. (NasdaqGS:CG) is interested in the foreign assets of the Russian U.S.-sanctioned oil company PJSC LUKOIL (MISX:LKOH) and is considering seeking a U.S. licence to negotiate a potential deal, the Financial Times reported. No due diligence has been conducted, and Carlyle may choose not to pursue a deal, the Financial Times reported on November 13, 2025, citing unnamed sources familiar with the U.S. firm. Several other bidders are competing for different parts of Lukoil's international business, the newspaper said.
Carlyle and Lukoil did not respond to requests for comment from SeeNews by the time of publication. Lukoil is looking to sell its international assets after the U.S. Treasury Department last month imposed sanctions on the company, set to take effect on November 21. On October 30, Lukoil said it had agreed to sell Lukoil International GmbH, which oversees its international business, to Gunvor, but the Swiss energy commodities trader later withdrew its offer after the U.S. Treasury stated that Gunvor would not be allowed to operate the assets and profit from such a deal.
