Leonid Fedun, co-founder of Lukoil, sold his 10% stake in the company for approximately 7 billion dollars, in the context of American sanctions.

Co-founder of Lukoil, Fedun sold a 10% stake in the company for approximately 7 billion dollars, according to Reuters sources. This decision comes after a rapid decline in Lukoil's portfolio, affected by the American sanctions imposed after Russia's invasion of Ukraine. Fedun, born in Ukraine and based in Monaco, managed to avoid sanctions for a long time, but is now selling his foreign assets.

Lukoil announced the cancellation of 76 million shares, representing 11% of its capital, in the period 2024-2025. Fedun, who became a billionaire following the privatizations of the 1990s, resigned from his position as vice president of Lukoil in 2022 and sold his stake in the football team Spartak Moscow. Now, as a resident of Monaco, he is reducing his Russian holdings.