Lukoil announced that its oil field in Iraq has encountered force majeure due to the impact of U.S. sanctions.

Sources said on Monday that Lukoil, a Russian oil company, has declared that its oil field in Iraq has been affected by force majeure, while Bulgaria is preparing to take over the company's Burgas refinery. Under pressure from US sanctions, Lukoil's international operations have been in trouble. As part of US President Trump's efforts to end the conflict in Ukraine, the US imposed sanctions last month on Russian oil giant Lukoil and Rosneft. The force majeure at the West Qurna-2 oil field in Iraq marks the biggest consequence of these sanctions. Four sources said Lukoil wrote a letter to the Iraqi Oil Ministry last Tuesday, stating that the company cannot continue normal operations at the West Qurna-2 field due to force majeure.