As Russia’s second largest oil company, Lukoil is a pillar of the country’s expansive energy sector. It is a sector, whether it’s oil or gas, that has long played a pivotal role in the Russian economy and has been an ace in the sleeve of sorts in the Kremlin’s ice-cold relations with Europe and the West. Lukoil has avoided sanctions in Europe, driven largely by the dependence of some Eastern European nations on Russian energy but the US and UK have levelled sanctions against the firm and executives. Sanctions against a company like Lukoil are designed to choke off vital…

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