US-Russia Peace Talks Eye Multibillion Lukoil Oil Deal
High-level US-Russian diplomatic negotiations to resolve the war in Ukraine have expanded to include a multibillion-dollar transaction involving Lukoil’s global oil assets, The New York Times reported. The proposed deal, discussed directly with Vladimir Putin by US special envoys Steve Witkoff and Jared Kushner, involves a consortium featuring American investor Todd Boehly and Middle Eastern…
Peace talks between the United States and Russia have taken a surprising turn, potentially involving a multibillion-dollar oil deal with Lukoil, Russia's second-largest oil producer. According to The New York Times, the proposed transaction requires approval from both governments and involves Lukoil's extensive international portfolio, which includes oil extraction concessions in Cameroon and Iraq, major European refining complexes in Bulgaria and Romania, and retail fuel station networks across Europe and the US.
The primary consortium behind the acquisition consists of American financier Todd Boehly, Middle Eastern investment groups with ties to President Donald Trump's key envoys Steve Witkoff and Jared Kushner, and a government-affiliated entity.
The negotiations have been ongoing for several months, with discussions reportedly taking place between US and Russian officials. Russian President Vladimir Putin brought up the prospect of the sale during a private Kremlin consultation with Witkoff and Kushner on September 5. Putin suggested the transaction as a way to show the Russian business elite and public that normal commercial engagement with the US is still possible.
American negotiators agreed to facilitate work on the transaction, believing it could help build positive relations with Moscow while applying downward pressure on oil prices.
For potential buyers, the regulatory approval process would grant significant financial benefits by lifting US sanctions restrictions on the assets and increasing their market capitalization. However, the execution of this multi-continent transaction depends on the political decisions made by Trump and Putin. This deal aligns with Trump's public stance that Russia presents a vast economic opportunity, a message he has used to encourage peace.
The initiative has also reignited discussions about Trump's business connections, including his cryptocurrency venture World Liberty Financial, which Witkoff co-founded and includes an investor with stakes in the proposed Lukoil buyout.
Written by urgent.news from Kyiv Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
