Saudi Midad Energy to Acquire Sanctioned Lukoil Assets

Midad Lukoil Deal draws eyes in the oil world. Saudi-backed Midad Energy signs a term sheet to buy Lukoil’s sanctioned assets. The company takes the lead in bids for these worldwide oil holdings. US regulators still need to sign off before it happens. Midad Energy put pen to paper on the term sheet. It aims at all of Lukoil’s overseas assets caught in Western sanctions. Midad locks its full cash payment in escrow. This setup follows US Treasury guidelines for safe handling. Funds sit there until green lights flash. Winning the Bid Midad