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One of Russia’s richest men, the president of Lukoil, the country’s second-largest oil company, has resigned.
In a brief statement Thursday Lukoil said Vagit Alekperov had informed the company of his decision that he was resigning as the company’s CEO and president.
Lukoil gave no further details as to why the resignation came, but the announcement comes days after Alekperov was sanctioned by the UK and 7 weeks after the company came out against Vladimir Putin telling him to end the war in Ukraine.
According to Reuters, Alekperova had decided to resign after the sanctions were imposed to protect the interests of the company.
Lukoil produces more than 2 percent of crude oil globally, and employs more than 100,000 people.
It operates in dozens of countries and is the second largest oil company in Russia after state-owned giant Rosneft. According to Bloomberg, Alekperov is worth about $ 16 billion.
Lukoil shares in Moscow have lost approximately 28% of their value since the occupation. They fell more than 2% on Thursday.
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