UK Sanctions Lukoil

The United Kingdom has imposed new sanctions against Russia, and one of the companies on the updated list has close connections to Kazakhstan, Orda.kz reports.

According to the UK Treasury’s release on October 15, the sanctions target 35 legal entities and five individuals. Among them is the Russian oil company Lukoil, which the British authorities accuse of “supporting the Russian government” through its activities in the strategically important energy sector.

In addition to Lukoil, sanctions were also imposed on Rosneft and its foreign partners in India and the UAE, as well as several Russian banks, the National Payment Card System, and several commercial firms registered abroad — including in China, Türkiye, and Thailand.

Lukoil maintains direct business interests in Kazakhstan: it is developing the Kalamkas-Sea and Khazar fields and holds a 12.5% stake in the Caspian Pipeline Consortium (CPC), the main export route for Kazakh oil. Last year, the company also announced the launch of its own gas station network in the country.

Recently, President Qassym-Jomart Toqayev met with Vagit Alekperov, a key Lukoil shareholder and one of Russia’s most influential oil magnates.

During the meeting, Toqayev congratulated Lukoil on 30 years of operations in Kazakhstan and awarded Alekperov the Order of Barys, First Class.

Original Author: Nikita Drobny