“Delukoilization”: protest against Russian oil company Lukoil

The Lukoil company accounts for 91% of its oil production in Russia. Promote Ukraine volunteers launched a Lukoil boycott in Belgium in April with the main aim of sharing information about the situation. In addition, it also wants to raise awareness about Lukoil as a Russian company sponsoring Russia’s war against Ukraine.

“Delukoilization”

The organization wants to engage in “deukoilisation”. “It is critical to understand that gas and oil exports are the main source of income for Russia. They accounted for 36% of the country’s total budget in 2021, roughly $9.9 billion in revenue per month ”, according to Promote Ukraine.

“Meanwhile, direct losses from the war are estimated to have cost Russia about $3 billion a month, three times less than the country’s energy revenues. This is a clear illustration of how effective stopping Russian energy purchases can be in stopping Russia’s war against Ukraine,” the organization added.