Lukoil plans to sell international assets

Russia's oil producer Lukoil said on Monday it would sell its international assets after it was hit with sanctions, the company's press service said.

It added that the bidding process has already started.

"The sale of the assets is conducted under OFAC wind down license. If necessary the company plans to apply for extension of the license to ensure uninterrupted operations of its international assets. The consideration of bids from potential purchasers has started," the statement reads.

Earlier, Washington imposed sanctions on Russia's largest oil companies, Lukoil and Rosneft.