The US government estimated Lukoil’s foreign assets at $20 billion ahead of a prospective sale, as Spanish LNG imports from Russia dropped to zero for the first time in five years. Simultaneously, Ukrainian delegates abruptly ended talks in Miami, and Armenian experts proposed state fuel support for farmers amid Middle East price risks.
Global market
Washington estimated the value of Lukoil’s overseas assets at $20 billion ahead of their planned divestment, reported the New York Post. US officials noted that while the transaction will not yield financial returns to Russia prior to sanction relief, it will direct substantial additional fuel into global markets. Concurrently, Spain’s imports of Russian LNG fell to zero for the first time in five years, as national grid operator Enagás reported that the kingdom replaced Russian volumes with expanded US shipments in September. In Latin America, the Brazilian government lowered fuel taxes ahead of the second round of presidential elections, while on diplomatic channels, a Ukrainian delegation cut short its negotiations in Miami with US officials.
Russia & CIS
Rosatom Director General Alexey Likhachev declared that the Russian state nuclear corporation will pursue litigation against Finland to the end of the legal chain over the canceled Hanhikivi-1 nuclear power plant contract. In Balkan energy logistics, Milorad Dodik, leader of Republika Srpska’s ruling Alliance of Independent Social Democrats, announced plans to submit a proposal for a Russian gas pipeline via Serbia to the Bosnia and Herzegovina state level. On German energy policy, Russian Special Presidential Representative Kirill Dmitriev stated that resuming energy cooperation with Russia could save German industry. Meanwhile, Russian forces struck Ukrainian energy facilities supporting military industries, causing power blackouts across Kyiv.
Armenia
Fuel importers in Armenia have begun incorporating Middle Eastern geopolitical risk premiums into retail petrol prices. To prevent speculative price spikes, local economists urged the government to organize direct fuel purchases and supply farmers at stabilized rates. Despite regional cost pressures, retail prices for petrol, diesel, and compressed natural gas in Armenia remain relatively stable. Natural gas deliveries from Russia and generation at the Armenian Nuclear Power Plant continue at full capacity under long-term EAEU trade agreements shielding the domestic market from global price swings recorded by international market price assessments.