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'Kremlin's puppet': U.S. Treasury blocks Gunvor's bid for Lukoil assets

global.espreso.tv
Fri, 07 Nov 2025 15:37:00 +0200
'Kremlin's puppet': U.S. Treasury blocks Gunvor's bid for Lukoil assets
The author of the Resurgam Telegram channel discussed the issue.The deal's collapse was triggered by an exceptionally harsh statement from the Treasury, which rejected Gunvor's attempts to secure a license for the purchase. The department stated unequivocally that as long as "Putin continues his senseless murders," the company, which it labeled a "Kremlin's puppet," would "never receive a license to operate and profit."The Treasury emphasized that this stance reflects President Trump's demand that the war "must end immediately."The fallout was immediate. Gunvor, which had reportedly sent a delegation to Washington and hired lobbyists to argue its case, promptly announced it was withdrawing its offer for the Lukoil assets.In its own statement, Gunvor fiercely contested the Treasury's characterization, describing the U.S. government's claims as "fundamentally untrue and erroneous." The company insisted it "has always been open and transparent" and has spent "over ten years actively distancing itself from Russia."The trader highlighted that it had already sold its Russian assets, ceased trading in compliance with sanctions, and "publicly condemned the war in Ukraine." The company stated it welcomed the "opportunity to correct this obvious misunderstanding" but was withdrawing its bid in the meantime.Earlier, it was reported that the controversial Swiss commodities trader Gunvor faces heightened scrutiny from Treasury Secretary Scott Bessent's department over suspected Russian connections as it pursues a multibillion-dollar acquisition of Lukoil's sanctioned international assets.
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