November 18, 2025 [Reuters]- Finland’s Teboil said on Monday it expects Russia’s Lukoil to divest the Finnish chain of petrol stations as part of the Russian oil major’s ongoing effort to sell foreign assets.

The United States last month hit Lukoil with sanctions over Moscow’s war in Ukraine, and the Trump administration on Friday gave clearance to potential buyers to talk to the Russian company about buying its non-Russian assets.

Lukoil is currently in active negotiations for the sale of its foreign assets, Teboil said in a statement on Monday.

“As a result of the negotiations, it is expected that the ownership of the company will change in the future,” Teboil said.

Finland’s Financial Supervisory Authority last month said banks and other Finnish institutions subject to its regulations should exercise caution in dealing with Lukoil and companies directly or indirectly owned by it.

A Teboil spokesperson later said the chain was at risk of running out of fuel due to the U.S. sanctions, Finnish daily Helsingin Sanomat reported on November 7.

Teboil, which is fully owned by Lukoil, has 430 Finnish stations according to its website, or roughly one fifth of the Nordic country’s 2,250 stations according to a 2024 report by an industry group.