Negotiations between the administration of US President Donald Trump and Russia to end the war in Ukraine have expanded and now include discussions of a multi-billion dollar deal related to the international assets of Russian oil giant “Lukoil“, the “New York Times“ reported. The information was also cited by “Reuters“.
According to the publication, the potential deal covers a large portfolio of “Lukoil“ oil fields, refineries and gas stations in different parts of the world. Its conclusion will require approval from both the US government and the Kremlin.
The group seeking to acquire the assets includes American billionaire and investor Todd Bowley, as well as two Middle Eastern business groups that had business ties to the families of two of the key American negotiators with Moscow - Steve Witkoff and Jared Kushner. According to the “New York Times“ a US government structure is also involved in the project.
The publication places the deal in the context of the intertwining of diplomatic negotiations with Russia and the possibilities for future economic cooperation between Moscow and Washington. There is currently no indication that the deal has been finalized or approved.
A US investor has received support for the purchase of the international assets of “Lukoil“
US authorities are considering the possibility of selling the assets of the Russian company to the investment firm “Carlisle“ for ten months now.
Putin raised the issue in the Kremlin
Russian President Vladimir Putin personally raised the issue of the deal during his meeting with Witkoff and Kushner in the Kremlin on September 5, according to the “New York Times“, citing people familiar with the negotiations.
According to one of the sources, Putin suggested that the conclusion of the deal serve as a visible signal to the Russian public that, despite the war, sanctions and the continuing deterioration of relations, Russia can once again do business with the United States.
Immediately after the September meeting in Moscow, the Kremlin announced that, in addition to the war in Ukraine, Whitcomb, Kushner and Putin had discussed in detail economic issues and potential major joint projects between Russia and the United States.
Negotiations on future cooperation in the energy sphere then continued. In late September, Putin's special representative and head of the Russian Direct Investment Fund, Kirill Dmitriev, met with US officials in Washington to discuss the war in Ukraine and possible Russian-US energy initiatives after its conclusion.
Business interests linked to US negotiators
The information from the “New York Times“ is also attracting attention because of the connections that some of the potential participants in the deal have with Witkoff and Kushner. Both are key representatives of Trump in diplomatic contacts with Moscow, and over the past year the White House has assigned them a significant role in efforts to negotiate an end to the war.
“New York Times“ has already investigated the overlap between Witkoff's diplomatic activities and his family's international business dealings. This has raised questions about potential conflicts of interest, although the existence of previous business ties alone does not prove wrongdoing.
The White House, the US Treasury Department and “Lukoil“ did not respond to “Reuters“ requests for comment on the report.
The revelation shows that in parallel with the negotiations to end the war, Washington and Moscow are also discussing the economic framework for a possible future normalization of relations. However, it is not yet clear whether the deal related to “Lukoil“ assets will be concluded and whether it will be tied to concrete progress in the negotiations on the Ukraine issue.