U.S. sanctions against "Lukoil" have prevented the Russian company from launching a grain trading business.

American sanctions imposed on "Lukoil" last autumn have prevented the Russian oil company from launching a grain trading business. This is reported by Bloomberg citing sources. It is noted that last year "Lukoil" attempted to enter the agricultural market and established a company, Teruva FZCO, in the UAE. In the summer, the structure began to form a team and experienced traders were hired to work with grains. However, due to United States sanctions, the project faced difficulties. It is specified that the restrictions affected work with banking channels and counterparties. According to the publication, the work of Teruva was wound up at the end of 2025. Trading operations were never started. The U.S. Department of the Treasury introduced new restrictions against two major Russian oil companies, including "Lukoil", on October 23, 2025. The sanctions affected all structures under their control, as well as all companies directly or indirectly owned by "Lukoil" by 50 percent or more.