US readies sale of Lukoil's overseas assets with Trump allies in the mix

U.S. officials are working on transferring Lukoil's overseas portfolio—comprising fuel stations, oil fields and refineries—to new owners, a move that would free the assets from Western sanctions. The most prominent prospective buyer is a group headed by Todd Boehly, which also counts a number of Arab investors among its members. Boehly has previously donated two million dollars to political initiatives associated with Donald Trump.

The Development Finance Corporation is slated to acquire a stake in the assets alongside the private consortium. Russian intermediaries Steve Witkoff and Jared Kushner are said to be coordinating the transaction, after President Vladimir Putin suggested the idea to them in early September. The deal is viewed as a potential lever for improving Russia's stance toward peace negotiations.