Lukoil sells its gas stations in Lithuania and Latvia

The Russian oil company Lukoil has decided to sell its assets in Lithuania and Latvia, according to The Lithuania Tribune’s DELFI.

Its subsidiary Lukoil Baltija, which operates 109 gas stations in Lithuania and other businesses in the Baltic countries, has decided to pull out due to the political situation in those countries.

"Right now our assets are for sale in Lithuania and Latvia, where there is fairly serious anti-Russian sentiment. The board of directors has therefore decided to pull out of these countries," Lukoil president Vagit Alekperov told the Russian TV station Russia-24.

Lukoil has already withdrawn businesses and halted plans to expand in some other European countries.

According to Forbes, Lukoil sold its 37 gas stations and all its assets in Estonia to Aqua Marina in June.