U.S. sanctions pose a risk to the global assets of Russian oil giant Lukoil.

The Iraqi government has stated that due to recent US sanctions on Russian Lukoil, the country can no longer cooperate with the company, which holds a significant stake in Iraqi oil fields. The Iraqi National Oil Marketing Organization has suspended payments for crude oil to Lukoil for November, estimated to involve around 4 million barrels of crude oil. Industry analysts say that Lukoil had attempted to sell its overseas business to an Austrian company last week, but failed due to intervention by the US Treasury Department, and now its global assets are at risk. According to Bulgarian official media reports, Bulgarian authorities have increased security measures at the Lukoil refinery in Burgas, and the government is drafting a law to take over the refinery and sell it to a new owner to avoid being affected by US sanctions. Last week, Finn Oil, a chain of gas stations under Lukoil, was unable to operate due to sanctions on its parent company, leading to fuel shortages.