“We stand for the immediate cessation of the armed conflict and duly support its resolution through the negotiation process and through diplomatic means,” Lukoil said in a letter to shareholders on Thursday.
It was not clear whether the move was a sign that executives of Russia’s largest private enterprise were breaking with Mr. Putin, or mainly an effort to persuade Western leaders, business partners and customers to keep doing business with the company.
“It says they realize it’s going to be difficult for them to engage in international commerce, let alone retail sales in the U.S.,” said Tom Kloza, global head of energy analysis at the Oil Price Information Service. “I’d call a Russian brand for gasoline the 21st-century equivalent of the scarlet letter.”
While petroleum products are the biggest Russian import in the United States and Europe, Russian products and sports teams have become pariahs. Several states have banned the sale of Russian vodka, and restaurants, stores and bars across the United States have taken Russian spirits off their shelves.
The Newark City Council voted on Wednesday to suspend the business licenses of local Lukoil gas stations.