For Free Headlines Submit Your Email
Friday, August 8, 2025 3:26 GMT
Litasco Middle East (LME) DMCC, a trading arm of Russia's Lukoil, is shifting its business to a newly-created Dubai-based entity, four sources familiar with the matter said, as Western powers tighten sanctions around Russian energy exports. The move comes after Britain added LME to its list of Russia-related sanctions last month. While the European Union stopped short of sanctioning LME, it listed Litasco's Dubai-based shipping arm, Eiger Shipping DMCC, in its 18th sanctions package against...More