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Russia comments on Swiss company Gunvor's withdrawal from Lukoil deal

Swiss commodities trader announces withdrawal of offer to acquire Russian energy company's foreign assets

Nov 7, 2025 12:23 300

Russia comments on Swiss company Gunvor's withdrawal from Lukoil deal  - 1

The international interests of Russian oil giant "Lukoil" must be respected, the Kremlin said on Friday, after Swiss trading company "Gunvor" announced it was withdrawing its offer to buy the company's foreign assets, Reuters reported, BTA reported.

"Gunvor"'s decision followed a statement by the U.S. Treasury Department, which described the company as a "Russian puppet" and made it clear that Washington opposes the deal.

After the announcement, "Lukoil" shares fell by more than 4 percent at the opening of morning trading on the Moscow Exchange. stock exchange. As of 12:00 Bulgarian time, they depreciated by 2.30 percent to 5,326 rubles per share.

The US Treasury Department said earlier that until the end of the conflict in Ukraine it does not intend to issue "Gunvor" a license that would allow it to operate and make profits, without specifying what type of license it is talking about. The department added that "Gunvor" is under the control of Russia.

Following this statement, the company announced that it was withdrawing its proposal to acquire "Lukoil"'s foreign assets.

In October, the United States and Britain included "Lukoil" on their sanctions lists. The US restrictions do not apply to transactions related to the Caspian Pipeline Consortium and the company "Tengizchevroil" (Tengizchevroil), and the British exclude the Karachaganak projects in Kazakhstan and Shah Deniz in the Caspian Sea.

As a result of the sanctions, "Lukoil" announced its intention to sell its international assets. The company received an offer from "Gunvor" to acquire "Lukoil International" - the company that owns the group's foreign assets.