$LUKOY fellow stockholders, here is an update on our Russian ADR liquidation.
Citi is finalizing the sale of its Russian custody business to Renaissance Capital. Because they are handing over the keys, local liquidation logistics are jammed compared to what JPM pulled off with $SBRCY. Front-line phone reps have no clue, and the portal notice board is stagnant.
We need to push for answers as a community. Call Citi and demand status on the "DTC Corporate Action Instruction."
📞 Call: 1-877-248-4237
📋 Track: https://depositaryreceipts.citi.com/adr/notices/pgm_dispCA.aspx?pageId=15&subpageID=112&cusip=69343P105
$LUKOY Extended again...
Remember, half of Lukoil's assets sit outside Russia and have been written off Lukoil's books. Where will the money for these sold assests go? No one knows...
Unlike other Russian ADRs or stock, Lukoil overseas money might be going to foreign shareholders because it has nowhere else to go that could benefit Lukoil and there are legal rights to it for foreign investors...or the money will sit in limbo. Where the money will go may explain the long delays in the agreed upon sale of Lukoil foreign assests.
https://www.novinite.com/articles/239263/US+Extends+Deadline+for+Talks+on+Lukoil+Foreign+Asset+Sales+to+July+25
$SBRCY About a 3X for me on Sberbank. Probably thanks largely to JPM doing their job. Seems Citi is behind the curve. Anyone reach out to them or have insight regarding $LUKOY?
JPMorgan Chase successfully navigated OFAC sanctions to liquidate its pools, distributing a 30% recovery ($4.47/share) for Sberbank (SBRCY) in mid-2026, a 25%–30% recovery (~$1.58/DR) for Mobile Telesystems (MBT) between late 2024 and mid-2025, and rolling tranches for Gazprom (OGZPY, 15%–20% recovery) and Rosneft (OJSCY, 15%–25% recovery) spanning late 2024 into early 2026. Conversely, Lukoil (LUKOY) and all Citibank programs have paid out 0% because their books remain frozen after Russian automatic conversions stripped the underlying share pools. BNY Mellon programs like Nornickel (NILSY) also sit at 0% cash paid to standard retail accounts, as that depositary prioritized physical share delivery for holders with local Russian accounts instead of broad cash liquidations.
$LUKOY if ADR holders get a 70% haircut on this and also don't get the dividends, we would be getting about 17.00 per share, and this was trading around 12.50 in the last hour of the previous day before this got halted, so we're talking a 40% gain. can't believe anyone would be happy with this. I might pay a visit to my rep in Congress about this, even though I know it won't mean a thing. never voting GOP at the national level again if this goes down this way, will only vote at the state and local level. how about Trump has to sell his Intel at 30% of what it's worth while we're at it...
