UANI

"Russian oil giant LUKOIL has resumed gasoline sales into Iran in partnership with China's state-run firm Zhuhai Zhenrong, even as the United States urges the international community to be tough with Tehran... Then sources familiar with the company said traders involved in gasoline trading with Iran at the Russian energy giant had received verbal direction from senior management to halt business activity. But LUKOIL's trading arm, Litasco, and Zhenrong discharged a 250,000-barrel gasoline cargo at the Iranian port of Bandar Abbas last week, industry sources said. Geneva-based Litasco was expected to ship a second cargo of the motor fuel to Bandar Abbas later this week, traders said. A LUKOIL spokesman said 'one-off deliveries (to Iran after it decided to stop the shipments in spring) took place within the frame of previously signed contracts.'" (Reuters,"Russia resumes gasoline sales to Iran," 8/11/10)

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In April 2010, Russian private oil giant Lukoil announced that it will stop gasoline shipments to Iran, as a result of pressure from US sanctions. Iran imports 40% of its gasoline due to a lack of refining capacity. (Ynet, "Russia's Lukoil to halt gasoline sales to Iran", 4/7/2010).

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"Russia's largest private crude producer LUKoil abandoned the Anaran oil project in Iran due to international sanctions, the company said on Wednesday. In its consolidated US GAAP financial accounts for 2009, posted on its website, LUKoil said its 'income before one-off impairment losses (including impairment loss for the Anaran project in Iran, which was abandoned due to international sanctions) reached $7,352 million.' Company vice president Leonid Fedun, earlier said further work on the oil field was impossible until U.S. sanctions were lifted.

The United States has imposed tough sanctions on international energy companies operating in Iran, including fines and other 'disincentives. 'The Anaran field, with estimated oil reserves of 2 billion barrels, was operated by a consortium of Norwegian StatoilHydro (75%) and LUKoil Overseas (25%)." (RIA Novosti, "Russia's LUKoil says Iran project dropped over sanctions," 3/24/10)

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"The enormous New York State Common Retirement Fund plans to divest $86.2 million in investments from nine companies doing business in Sudan and Iran...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries.'We don't expect our investments to benefit regimes that support genocide and terrorism,' said DiNapoli. The fund plans to divest out of $86 million in Gazprom (OGZPY), Inpex (1605.TO), Lukoil (LUKOY), Oil And Natural Gas Corp (500312.BY), OMV (OMVKY), Petroleo Brasilia (PBR), Statoil (STO), Wartsila OYJ and Sinopec Corp. DiNapoli said the firms were chosen because 'they failed to respond or we were not satisfied with their responses' when asked to provide information to the fund on the investments and their risks." (Dow Jones Newswires, "NY Comptroller To Divest $86.2M In State Pension Fund Investments," 6/30/09)

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"New Jersey is poised to jettison $360 million worth of stock in 11 companies to comply with new state legislation that prohibits state investment in firms doing business with Iran, officers of the pension fund reported yesterday. The companies to be shed under the Iran prohibition are all international engineering or energy firms, including Lukoil and Gazprom, that have financial ties to the government of Iran." (The Star-Ledger, "State to shed $360M worth of stock in firms tied to Iran," 3/21/08)