Saturday, March 21, 2026 3:00:10 PM

Russian oil giant Lukoil ended 2025 with a net loss of 1.06 trillion rubles (approximately $12 billion), according to its financial statements.

That figure was more than 150 billion rubles higher than a year earlier.

Revenue fell 15% to 3.8 trillion rubles (approximately $46 billion), while net debt dropped 78% to 226 billion rubles.

The company’s board of directors has recommended paying dividends of 278 rubles per ordinary share for 2025.

A shareholder meeting is scheduled for April 23.

Lukoil wrote down its international business investments and estimated impairment losses on assets at 1.7 trillion rubles.

Last fall, the Russian company and its subsidiary legal entities were hit with US sanctions.

In early 2025, it announced a preliminary agreement to sell Lukoil International GmbH to US investment fund Cartyle, but the US Treasury Department’s Office of Foreign Assets Control has not yet granted approval.

As Vedomosti notes, proceeds from the asset sale are highly likely to be transferred to a special account, with the funds only accessible after sanctions are lifted.

(C)UAWIRE 2026