Aleksperov Discusses Reasons for Leaving LUKOIL

The founder of LUKOIL, Vagit Alekperov, explained his decision to step down as chairman of the company due to personal sanctions, aiming not to hinder the company's development. This was reported by Kommersant.

According to him, he does not intend to leave Russia and will engage in charitable activities. “Everyone knows that British and Australian sanctions have been imposed against me, which today interfere with the development of the company. The sanctions concern not LUKOIL, but me personally, which is why I decided to leave the company’s operations. Today I am not a council member, nor the company’s chairman, nor a board member. Therefore, the company is not associated with me anymore. And I do not have a controlling stake, so the company can develop freely,” he said during an interview on Rossiya 24.

Earlier, Russian businessman Vagit Alekperov, co-owner, founder, and chairman of LUKOIL, announced that he had resigned from his position and was stepping down from the board of directors.