New Delhi, Oct. 28 -- Moscow-headquartered oil major Lukoil announced on Monday that it will start selling its international assets following sanctions imposed by the United States.

Lukoil, Russia's second-largest oil producer, also said it has started considering bids from potential purchasers. The asset sales will be carried out under the wind-down license issued by the US OFAC (Office of Foreign Assets Control).

According to Lukoil, the move is a direct response to the "introduction of restrictive measures against the Company and its subsidiaries by some states," ANI reported.

The US imposed sanctions on Russian oil firms on 22 October, specifically targeting two of Russia's largest oil producers - Rosneft and Lukoil. This decision ...