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Vagit Alekperov, one of the richest people in the world, has resigned as CEO of Lukoil, Russia’s second-largest oil company.
Lukoil confirmed that Mr. Alekperov would step down as director and president of the company in a statement Thursday. The statement did not specify why Alekperov resigned or who would take over.
The move comes after the UK decided to impose an ‘asset freeze’ and travel ban on the Russian-Azerbaijani businessman last week, as part of sanctions imposed amid the war with Ukraine.
It also comes seven weeks after Lukoil severed ties with Vladimir Putin and called for an end to the war.
Lukoil is the second largest oil company in Russia after state-owned firm Rosneft, producing 2% of the world’s crude oil and employing 100,000 people.
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