Co-founder of “Lukoil” Leonid Fedun sold his stake in the company after sanctions
The co-founder of the Russian company “Lukoil” Leonid Fedun sold his assets valued at about $7 billion amid sanctions imposed on the company. This decision became part of a trend to reduce Russian assets following international restrictions.
Fedun, a native of Ukraine who currently resides in Monaco, sold approximately 10% of his stake in “Lukoil” at the beginning of 2025. The stake returned to the company, allowing him to avoid direct investment risks associated with assets in Russia. According to Reuters, the value of this stake was estimated at $7 billion, although the exact amount of funds received is unknown.
After the imposition of sanctions in October against “Lukoil,” the company actively began selling its foreign assets. Meanwhile, another former co-owner, Vagit Alekperov, continues to influence the company’s activities “behind the scenes.” However, Fedun decided to step back from business.
The company refrained from specific comments, and journalists were unable to contact Fedun. Meanwhile, the sanctions have already negatively impacted “Lukoil’s” plans for gas production in Romania, the opening of Teboil filling stations in Finland, and led to external control over activities in Bulgaria.
| Year | Event |
|---|---|
| 2024-2025 | Buyback and redemption of 76 million “Lukoil” shares |
| 2025 | Sale of stake in “Lukoil” by Leonid Fedun |
| 2023 | Sanctions resulted in external control over assets in Bulgaria and closure of Teboil filling stations |
