The personal sanctions of Britain and Australia interfere with the work of Lukoil, this was the reason for leaving the company, Report informs citing TASS that Vagit Alekperov said in a statement.
The statement notes that Alekperov has no plans to leave Russia and will continue to engage in social projects.
On April 21, Vagit Alekperov, co-owner, president, and founder of Lukoil, Russia's largest private oil company, announced his decision to step down from his post and also step down from the board of directors.
Earlier, V. Alekperov came under British sanctions.