Atletico Madrid s Slovenian goalkeeper Jan Oblak stops the ball during the penalty shoot-out session during the game between Atletico Madrid and Inter Milan (Photo /AFP)
Oblak saved the penalties by Alexis Sánchez and Davy Klaassen before Lautaro missed the final kick for last year's runner-up in the European competition.
Atletico reversed the 1-0 first-leg loss after Memphis Depay scored an 87th-minute goal that gave Diego Simeone’s team a 2-1 win in regulation.
Atletico didn't made it past the group stage last season and was eliminated by Manchester City in the last eight in 2021-22.
Inter, which lost last year’s final to Man City, had arrived at the Metropolitano Stadium enjoying a 13-game winning streak. It hadn’t lost in 15 consecutive games in all competitions.
Inter opened the scoring in regulation with Federico Dimarco in the 33rd, but Atletico equalized two minutes later with Antoine Griezmann in his return from injury.
In the other Champions League match Wednesday, Borussia Dortmund defeated PSV Eindhoven 2-0 at home to advance 3-1 on aggregate.
The eight teams in the draw for the quarterfinals are Atletico, Borussia Dortmund, Bayern Munich, Paris Saint-Germain, Real Madrid, Manchester City, Arsenal and Barcelona.
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