The Iraqi state oil company “SOMO” canceled the loading of three oil shipments from the Russian company Lukoil’s share in the West Qurna 2 field, due to fears of US and British sanctions on the company. The field produces about 480,000 barrels per day, and shipments were scheduled for this November.

Lukoil owns 75% of the field, while the Iraqi North Oil Company owns the remaining share. The sanctions affected Lukoil's operations abroad, including British shipbrokers refusing to charter ships to the company, and having to lay off some of its staff.

Finnish gasoline stations affiliated with “Teboil”, owned by Lukoil, also face the risk of losing about 1,000 jobs after the implementation of sanctions on Russian oil. It is expected that Lukoil will subsequently seek to sell some of its foreign assets as a result of these pressures.