Lukoil trading arm shrinks fast under Western sanctions

Core Insights - U.S. sanctions are significantly impacting Lukoil's Litasco, which was once the largest oil trader in Russia and a competitor to leading Swiss firms and major oil companies [1] Company Impact - Litasco, previously a dominant player in the oil trading sector, is facing dismantlement due to the enforcement of U.S. sanctions [1] Industry Context - The sanctions are reshaping the competitive landscape of the oil trading industry, particularly affecting Russian entities like Litasco that were once key competitors to established global firms [1]