Newark, NJ, Councilman Wants to Suspend City’s Lukoil Gas Licenses

NEWARK — Moscow-based Lukoil could be the next target of a New Jersey boycott of products from Russia following that country's invasion of Ukraine, at least in the state's most populous city, where one council member said he will introduce a resolution to suspend the business licenses of local Lukoil stations.

Although the measure sponsored by North Ward Councilman Anibal Ramos Jr. does not appear on the final version of Wednesday afternoon's Newark Municipal Council agenda, he wrote on Facebook Tuesday night that the council would vote on it during that meeting.

Newark currently has two Lukoil stations, both on McCarter Highway (Route 21).

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Sal Risalvato, executive director of the New Jersey Gasoline, C-Store, Automotive Association, told NJ.com he disagreed with the action, saying "these guys are not Russia."

Lukoil's largest shareholder is its CEO, Vagit Alekperov, who owns a 20.6% stake in the company, according to Marketrealist.