May 21, 2019 / 2:51 PM / a month ago

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

MOSCOW, May 21 (Reuters) - Russian oil producer Lukoil has extended by two years a $300 million credit line with ING Bank until May 2022, a filing showed on Tuesday, illustrating how the company has maintained relations with Western banks despite sanctions.

Lukoil is not under financial sanctions, but the United States in 2014 imposed restrictions on Western companies working with Russian oil majors in some areas such as Arctic, deep-water and shale exploration.

Lukoil CEO and co-founder Vagit Alekperov said in 2014 that sanctions could negatively affect Lukoil and its access to the Western financial markets. (Reporting by Anton Kolodyazhnyy and Katya Golubkova; writing by Tom Balmforth; editing by Maria Kiselyova)

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