Lukoil, Which Owns Teboil, Says It Is Selling Its International Operations – the Buyer Has Old Kremlin Connections

Gunvor’s Bid for Lukoil Raises Questions Over Russian Influence - Novinite.com - Sofia News Agency

Political party "Democratic Bulgaria" (part of WCC-DB) has voiced concerns over potential Russian influence in the proposed sale of Lukoil’s international assets. The Russian oil company recently confirmed that it received an offer from the multinational Gunvor to acquire its foreign holdings. Gunvor acknowledged the preliminary nature of the negotiations, which are subject to approval from European and U....

Lukoil Turmoil: How Trump’s Sanctions Crushed Russia’s Second-Largest Oil Producer

Russia’s Lukoil said Thursday it has accepted an offer from global commodity trader Gunvor to buy its international business after crippling U.S. sanctions forced the oil giant to divest its foreign assets. The sale marks one of the most significant corporate consequences of Western sanctions since Russia’s 2022 invasion of Ukraine. Lukoil announced the sale of its foreign assets to the Kremlin-controlled oil trader GunvorAccording to Lukoil’s p…

U.S. Sanctions Force Lukoil to Divest Global Holdings

Lukoil has agreed to sell its international business to Switzerland-based commodity trader Gunvor, the second-largest Russian oil company said on Thursday, a week after the U.S. slapped sanctions on Russia’s top oil firms, making doing business with their international subsidiaries extremely complex and nearly impossible.  Following the U.S. sanctions on Lukoil and Rosneft from last week, “as a result of Russia’s lack of serious commitment to a …

Lukoil sells foreign assets to Swiss-based firm after punishing US sanctions

The buyer, energy trading firm Gunvor, was co-founded by Russian billionaire and Putin ally Gennady Timchenko.