Lukoil, Russia's second-largest conglomerate, has called for an end to armed conflict in Ukraine in an official statement. The statement says that, "We advocate a rapid end to the armed conflict and fully support its resolution through a process of negotiation and diplomatic means,"

Having the board of such a large company come out in direct opposition to the actions of the gov't will come as a major blow to Russian President Vladimir Putin. So far, no senior officials in gov't or the private sector have put their head above the parapet and criticised the actions of Putin or - as Lukoil has now done - called for a cessation of violence.
Focus will now turn to Putin's reaction to the Lukoil board, the firm itself, and indeed how other large Russian firms currently being hit by Western sanctions react to the invasion.

EM Bullet Homepage markets-real-time Political Market News Political Risk Political Risk Bullet Bullet Emerging Markets News

Tom Lake

EM Bullet Homepage markets-real-time Political Market News Political Risk Political Risk Bullet Bullet Emerging Markets News

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Lukoil, Russia's 2nd Largest Company, Calls For End To Armed Conflict