The minister specified that the republic's government has submitted a request to the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC). This office must give consent for the deal in accordance with existing sanctions.
Kazakhstan is interested in purchasing Lukoil's stakes in significant oil and gas projects, such as the Tengiz and Karachaganak fields, as well as participation in the Caspian Pipeline Consortium, which exports the majority of Kazakhstan's oil.
According to Akkenzhenov, the republic has the right of first refusal for these assets under its legislation.
Reuters also reminds that under the sanctions, Lukoil must sell its foreign assets by February 28.
