Vahit Alekperov, President of Russia-based energy company Lukoil, says they have stopped oil purchases from Iran completely.

Alekperov, who has made statements to the Russian press, said they have stopped oil purchases from Iran completely. We expect final statements to be announced after November. We will then make some decisions. Because we are an international company, there are big risks and we cannot make any violations.

Alekperov said in a statement in May that he had reviewed the issue of taking part in the El Teymur project in Iran.

As part of the US sanctions against Iran, the purchase of Iranian oil from November will be considered a violation of the law.