Russia’s Lukoil PJSC declared force majeure on oil shipments from its giant West Qurna 2 field in Iraq, according to a person with knowledge of the matter.
The move is a sign that sanctions against Russia’s No. 2 oil producer are beginning to impact its international operations. The US announced penalties against the firm last month as part of President Donald Trump’s efforts to ramp up pressure on Moscow to end its war in Ukraine.