Gunvor announced on Thursday evening that withdraws its offer to purchase Lukoil's assets, which occurred just a week after the transaction was announced. According to a statement published by the US Department of the Treasury on the X platform, the American authorities strongly opposed the agreement, pointing to the context of Russia's war with Ukraine.
“President Trump has made clear that the war must end immediately,” the statement said. The Department emphasized that as long as Vladimir Putin continues hostilities, Gunvor, described as a “Kremlin puppet”will not receive permission to operate and make profits.
Seth Pietras, a spokesman for Gunvor, strongly rejected the US Treasury Department's allegations in an interview with Politico. He stated that the US position is wrong and based on false premises. He argued that the company has been operating transparently for many years, distancing itself from cooperation with Russia, selling Russian assets and publicly condemning the Russian invasion of Ukraine.
More of the material below the video
Sale as a result of sanctions
Russia's Lukoil, which a week ago announced the decision to sell its foreign assets to Gunvor, has taken this step in connection with the next package of American sanctions imposed on Russia. The parties have already agreed on the key terms of the contract, committing themselves to exclusive negotiations. However, the finalization of the transaction required the consent of the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury, as well as obtaining appropriate permits in other countries.
See also: The sanctions have shaken Lukoil's foreign businesses. Problems from Iraq to Switzerland
Gunvor, one of the world's largest oil and liquefied natural gas players, has a controversial history. One of its founders was Gennady Timchenko, a billionaire close to Vladimir Putinwhich was subject to US sanctions in 2014 after Russia's annexation of Crimea. Currently 84.2 percent shares in the company belong to the second founder, Torbjoern Toernqvist, and the remaining shares are in the employee benefits fund.
Lukoil, which has assets in countries such as Azerbaijan, Kazakhstan, Iraq and Egypt, operates worldwide. It manages refineries in Bulgaria, Romania and the Netherlands and a network of almost 2.5 thousand gas stations in Europe, Georgia and the Balkans. In the face of growing international pressure on Russia, the future of the company's foreign operations remains uncertain.
See also: “They finance the Kremlin's war machine.” Why are Rosneft and Lukoil so important to the Russian economy?
