One of Russia's largest oil producers Lukoil, (OTC:LUKOY) plans to sell all its international assets in response to new sanctions imposed due to Moscow’s actions in Ukraine, according to a company statement.

Lukoil will have "an obligation" to sell its local refinery Petrotel before next month's deadline, Romania's state secretary for energy, Cristian Bușoi, told Politico in the context of the sanctions set by the US against two Russian oil companies.

Kazakhstan's authorities are determining how to deal with Russian oil producer Lukoil's stakes in projects and could make a decision soon, the chairman of sovereign wealth fund Samruk Kazyna said on Tuesday.