Modern.az

Azerbaijani businessman facing a difficult test - may lose billions 

Azerbaijani businessman facing a difficult test - may lose billions 

Diaspor

Today, 13:52

It is reported that "LUKOIL" and "Rosneft", two of Russia's leading oil companies, may be included in the 21st package of sanctions prepared by the European Union against Russia.

Modern.az reports, citing "Politico", that the new restrictions being discussed in Brussels target the energy sector, which is considered one of the main sources of income for the Russian economy. The information notes that in addition to sanctions against "LUKOIL" and "Rosneft", additional measures are also being considered against Russia's tanker network, known as the "shadow fleet".

One of the striking aspects of the topic is the re-emergence of the name of Azerbaijani-born Russian businessman and billionaire Vahid Alakbarov, the largest shareholder of "LUKOIL".

Vahid Alakbarov, who led "LUKOIL" for many years, remains one of the largest shareholders of the company. According to international financial ratings, his fortune is estimated at approximately 28-30 billion dollars, and he is among the richest businessmen in the post-Soviet space.

If the European Union's new sanctions targeting the energy sector are adopted, this could create additional pressure on "LUKOIL"'s operational capabilities in Europe, international operations, and investment projects.

It should be noted that the EU's new package of sanctions is expected to be presented at the end of June or beginning of July. The package is reported to include restrictions against Russian banks, financial institutions, and large companies operating in the energy sector.

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