Russian Lukoil can work in Azerbaijan (US Congress’ verdict)

Russian Lukoil can work in Azerbaijan (US Congress’ verdict)

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he new US sanctions will not apply to companies with less than 33% of Russian participation, Bloomberg agency reports.

Thus, considering the approved bill, one can say with certainty, that American sanctions will not apply to Shahdeniz project. As is known, about 10% of the project belongs to the Russian Lukoil.

‘The energy companies have activated lobbying operations to remove the prohibition to work on international projects even with a small Russian share. This is applied to companies with Russian holdings of less than 33%,’ the agency reports.

Bloomberg points out that the changes will hinder Russian firms from buying a small share of a project for the sake of eliminating American competition.

Earlier, it was reported that due to new sanctions against Russia, adopted by the United States, Vagit Alekperov will have take a decision to withdraw Lukoil from the Shahdeniz project in Azerbaijan.

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