Russia's Rosneft, Lukoil lose $5.2B in market value

2 weeks ago

The market value of Russia's two largest oil producers, Rosneft and Lukoil, has dropped $5.2 billion after the US imposed new sanctions targeting the companies and their subsidiaries. Rosneft shares declined 3 percent to $4.19 late Friday, after falling to $4.12 — their lowest since May 2023 — wiping out 127 billion rubles from its market capitalisation. Lukoil's stock plunged 7.2 percent