Kazakhstan works to limit impact of sanctions on joint projects with LukoilAdvisors to Kazakhstan’s Sovereign Wealth Fund Samruk-Kazyna are continuing efforts to mitigate the impact of sanctions imposed on Russia’s Lukoil on joint projects in Kazakhstan, Samruk-Kazyna CEO Nurlan Zhakupov said.“Our consultants are working to minimize and mitigate the potential negative impact of the sanctions imposed on Lukoil. This work is ongoing — we do not stop because new information keeps emerging, and our compliance teams are monitoring the situation,” Zhakupov told reporters on Tuesday.He described the negotiations as “a very difficult process,” noting that U.S. authorities had granted exemptions for major Kazakh projects involving the sanctioned company — Karachaganak, Tengiz and the Caspian Pipeline Consortium (CPC).“But in any case, we continue monitoring the situation to minimize and mitigate possible negative consequences for KazMunayGas and Samruk-Kazyna Group,” he said.On October 22, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) added Lukoil to its sanctions list while issuing a license allowing companies to wind down operations with the firm until November 21. The United Kingdom imposed sanctions on Lukoil on October 15.Several international projects, including Tengiz, Karachaganak and CPC, were exempted from the restrictions.Chevron and Lukoil are partners in the Tengiz and Karachaganak projects, while ExxonMobil is also a shareholder at Tengiz. (ICE ALMATY)

Fonte notizia: INTERFAX