LUKOY NK Lukoil PAO (ADR)

$LUKOY When I ponder the fact that this has been frozen for over four years, I do so in stunned disbelief.

$LUKOY love how I come to his page every month to find updates, only to find people in the same boat as me looking for a solution still.

$LUKOY Thinking about it, Trumpy didn't keep his promise to end the war in 24 hours. But even so, he could negotiate into any presumably eventual settlement that Lukoil holders are made whole. Since he seems willing to let us get fleeced plus have a lot of that value stolen by his friends, why should I vote GOP on the national level? I think I've finally decided I'll sit that part out and I live in one of the crucial districts.

$LUKOY Here is the good news. As the current sanctions are written Lukoil will get cash BUT that cash will be stuck outside of Russia. What do you do with cash you can’t spend BUT you have a class of foreign investors who create this annoying legal obligation to pay dividends to? Solution: You buy them out for a big discount. Expect a 50%-80% discount from Moscow prices. It’s currently trading at $66 so expect at worst case scenario: $13.20 per ADR up to maybe $33 per ADR. Moscow will not permit more than $33. Now here’s the neat trick. Lukoil buys your ADRs with that external cash and they get the legal right to your dividends in RU they have been stockpiling since the war started. So each ADR has generated like $48 in dividends since January 2023 to now. Lukoil gets to wipe those unclaimed obligations off the books. Effectively giving a massive buyback on steroids to existing shareholders in Russia. Everyone wins except possibly for ADR holders who bought above $13.20.

$LUKOY When Kushner and Witkoff see money and blood they run to the scene with drool dripping from their chins... The blood creates the profit opportunities. The religion of Satan that Jesus warned.

$LUKOY Interesting developments to say the least. Maybe I’m crazy but I still don’t peg our chances at receiving anything at greater than 25% at this point. Who knows though!

$LUKOY The Kremlin, on the other hand, will not benefit from the sale, at least in the short term. The proceeds are to be deposited into a blocked account in the U.S. If Putin gives his approval, this could be interpreted as a sign of goodwill—without him having to make any concessions in Ukraine. Like I said, this asset sale isn't going to free up our ADRs unless the ADRs are used as payment in the sale ( as was once floated earlier in 2026). If this sale's proceeds are blocked in the US, the shares backing ADR's will similarly stay frozen in Russia, unable to be sold or funds repatriated out of Russia.

$LUKOY I converted from ADRs to shared during the freeze when that was allowed with Fidelity, im wondering if people that converted will be part of a potential buyback as well or if it will just be ADRs holders ?