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Friday, August 8, 2025 3:26 GMT

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Top News of UAE

Lukoil Sets Up New Oil Trading Arm in Dubai

published:07/08/2025 04:52 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


Latest Oil and Gas News

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Latest Business and Economic News

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