Russia's Lukoil extends $300 mln credit line with ING

Russian oil producer Lukoil has extended by two years a $300 million credit line with ING Bank until May 2022, according to Reuters.

Lukoil is not subject to the current western financial sanctions against Russia, and this illustrates how the company has maintained relations with Western banks despite sanctions on Western companies working with Russian oil majors in some areas such as Arctic, deep-water and shale exploration.