Lukoil’s foreign asset sale becomes part of U.S.–Russia talks on ending Ukraine war, NYT reports

The sale of Lukoil's foreign assets has been brought into discussions between Russia and the United States regarding the end of the Russia-Ukraine war, according to sources cited by The New York Times. Russian President Vladimir Putin brought up the subject of selling Lukoil's assets during his meeting with U.S. envoys Steve Witkoff and Jared Kushner on September 5, the newspaper reported.

Putin expressed his desire to see the deal finalized, emphasizing that it would demonstrate that Russians and Americans can engage in business together, a source told the NYT. Potential buyers for Lukoil's foreign assets, valued at around $20 billion, include former Chelsea co-owner Todd Boehly, the UAE president's brother Sheikh Tahnoon, and Qatar's Al-Khayyat family, all of whom have connections to the Trump and Witkoff families.

Boehly provided $2 million to Trump's political campaigns. The Al-Khayyat brothers are constructing a resort in Albania with Kushner and Ivanka Trump, while Sheikh Tahnoon has invested in ventures involving Kushner, Witkoff, and Trump's sons. The Trump administration sanctioned Lukoil in the fall of 2025, prompting the company to seek a buyer for its foreign assets.

The identity of Lukoil's buyer remains uncertain, and the final sale price is unknown. Initially, the Russian-linked trade firm Gunvor attempted to acquire the foreign business, but U.S. authorities deemed it a "Kremlin puppet" and denied approval. Another American investment fund, Carlyle, also expressed interest, but the U.S. Treasury Department has not yet granted permission for its application.

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