Overview
- The U.S. Treasury stated on X, citing President Donald Trump, that Gunvor will not receive a license to operate or profit while the conflict in Ukraine continues.
- Hours later, Gunvor withdrew its offer to acquire LUKOIL International GmbH, the entity that holds Lukoil’s foreign assets.
- Gunvor characterized the Treasury’s statement about the company as “fundamentally incorrect and false.”
- Lukoil remains under U.S. sanctions, making any transfer of its foreign-asset vehicle contingent on U.S. approval.
- The scrapped bid illustrates how sanctions and official messaging can swiftly derail energy-sector deals involving Russian assets.