Russian oil group Lukoil president Vagit Alekperov resigns

President of the Russian oil group Lukoil, Vagit Alekperov

 Vagit Alekperov, the number one person for Lukoil - Russia's largest oil company and one of the largest in the world - has resigned. This was reported by the giant in a note reported by Russian agencies: "Alekperov informed the company of his decision to relinquish his duties as a member of the board of directors of Pjsc Lukoil, as well as resign as president".

 Top managers have expressed a position of criticism of the war against Ukraine and are among the oligarchs sanctioned by Britain and Australia. Russian oil giant It is a real empire, with more than 100,000 employees, and which produces 2% of all the world's oil. Active in dozens of countries (including Italy and the United States). Lukoil is the first private Russian group in the sector, whose president and founder, Alekperov, stepped down after running for 30 years. 

This is a real earthquake for an economy based largely on energy production. Some think that the decision was related to the critical position taken in the war in Ukraine, according to other commentators the real reason was to protect operations abroad, considering that Alekperov was among the oligarchs approved by Great Britain and Australia. In early March Lukoil had expressed his opposition to the conflict: the Board of Directors had expressed "solidarity with all the victims affected by this tragedy", calling for a "lasting ceasefire". 

Vagit Alekperov - of Azerbaijani origin and former Deputy Minister of Energy in the former Soviet Union in 1990 - and with an estimated $23 billion in assets - is one of the most important oligarchs to express confusion (or openly critical position) about Russia's war against Ukraine. Among the most sensational cases - many of which were exposed in the early stages of the conflict - the cases of aluminum magnate, Oleg Deripaska and Mikhail Friedman, the main shareholder of the Alfa Bank group. Further back in time, the most famous is Mikhail Khodorkovsky - a former member of the Komsomol (Youth Communist) - who has built a huge fortune with opaque deals in the Boris Yeltsin years: this was before siding with Putin and ending up in prison for eight years, before moving on. to London.

According to a Reuters source, the origin of Alekperov's decision was "the desire to maintain Lukoil's cross-border activity". Meanwhile Russia's concerns about the possibility of new European and American punitive measures against the energy sector are increasing. Among the reasons why the company has not been affected so far, its investments in the UK, Europe as well as in the USA: the Russian group controls, among other things, one of Italy's largest refineries, La Isab di Priolo Gargallo, in Sicily , with a capacity of 320 thousand barrels per day . Lukoil also has business relationships with the US where it controls 230 fuel stations through local operators in the states of New York, New Jersey and Pennsylvania.

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