CEO of Russia’s second biggest oil company resigns weeks after calling for end to war

Mark Thompson and Chris Liakos

One of Russia’s richest men has quit as CEO of Lukoil, the country’s second largest oil company.

In a brief statement Thursday, Lukoil said Vagit Alekperov had informed the company “about his decision to resign” as a director and president of the company.

The company did not disclose the reason for Alekperov’s resignation.

The announcement comes just days after he was sanctioned by the United Kingdom and seven weeks after Lukoil broke ranks with President Vladimir Putin and called for an end to Russia’s war in Ukraine.

In a statement to shareholders, staff and customers on March 3, Lukoil’s board of directors said that it was “calling for the soonest termination of the armed conflict.”

“We express our sincere empathy for all victims, who are affected by this tragedy. We strongly support a lasting ceasefire and a settlement of problems through serious negotiations and diplomacy,” the board added.

Lukoil produces more than 2% of the world’s crude oil and employs over 100,000 people.

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