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Lukoil Said to Seek International Loan as Russian Sanctions Bite

OAO Lukoil is seeking a loan from international banks, according to three people with knowledge of the matter.

Russia’s second-largest oil producer asked lenders for a pre-export finance facility denominated in dollars, said the people, who asked not to be identified because they’re not authorized to speak about it. While the company is among five Russian energy firms targeted in sanctions imposed by the U.S. last month, the penalties on Moscow-based Lukoil don’t restrict its access to financial services, according to the U.S. Treasury Department.