Gunvor Pulls Lukoil Bid After U.S. Treasury Labels Firm a ‘Russian Puppet’

Swiss commodity major Gunvor has pulled a $22-billion bid for Lukoil’s international business after the U.S. Treasury Department signaled it was not happy with the deal, calling the company a Russian “puppet”. “President Trump has been clear that the war must end immediately. As long as Putin continues the senseless killings, the Kremlin’s puppet, Gunvor, will never get a license to operate and profit,” the Treasury said in an X post. Gunvor was co-founded by its current CEO, Torbjorn Tornqvist, and Russian businessman…