MOSCOW / WASHINGTON - According to information from the New York Times, Russia and the United States are reportedly discussing a possible deal involving international assets of the Russian oil company Lukoil as part of broader diplomatic contacts related to the war in Ukraine. The potential transaction could involve a vast portfolio of foreign oil fields, refineries, and gas stations, with a value potentially reaching billions of dollars. The information was subsequently published by Reuters.
According to the published information, one of the potential interested parties is a group led by American investor Todd Boehly. The possible consortium also includes two groups from the Middle East that have previously conducted business with individuals linked to the families of Jared Kushner and Steve Witkoff. According to the report, one branch of the U.S. government is also involved in the project.
According to the New York Times, the issue of Lukoil was supposed to be raised during discussions about Ukraine. Russian President Vladimir Putin reportedly mentioned this project on September 5th during a meeting with Witkoff and Kushner at the Kremlin. According to a source cited by the American newspaper, Putin may have viewed the proposal as an opportunity to show the Russian public that despite the current political conflict, there could be business relations between Russia and the United States.
According to the published information, the U.S. side responded to the proposal by stating that it would consider it. One of the reasons is the possibility of using a potential transaction to strengthen contacts between Washington and Moscow. Another argument is the potential impact on the global energy market, particularly the possibility of increasing the availability of oil and subsequently putting pressure on energy prices.
The specific price of the transaction has not yet been determined. Lukoil previously valued its foreign assets at approximately $20 billion. However, their potential sale is complicated by U.S. sanctions. Therefore, according to available information, the transaction would require the approval of U.S. authorities, primarily the Department of Finance.
Information about Todd Boehly's possible interest in Lukoil's foreign assets emerged as early as September. Reuters then cited the Financial Times as saying that Boehly had reportedly received support from the U.S. government and some influential figures in the Persian Gulf. At the same time, Reuters noted that it could not independently verify this information at the time.
A potential agreement would therefore represent a significant intersection of energy, sanctions policy, and ongoing diplomatic negotiations between Washington and Moscow. However, it is not yet clear whether and under what conditions the transaction will actually be concluded. The White House, the U.S. Department of Finance, and Lukoil did not immediately respond to requests for comment from Reuters.
Jan Vojtěch, Editor-in-Chief of General News