Gunvor drops $22bn bid for Lukoil assets after US moves to block deal

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Gunvor, a Swiss-based commodities trader, has withdrawn its $22 billion bid for Lukoil assets after the US Treasury Department threatened to block the deal, citing national security concerns and labeling Gunvor as 'the Kremlin's puppet'. This move suggests that the US is taking a tough stance on Russian energy assets and may impact the global energy market. The decision also highlights the increasing geopolitical tensions between the US and Russia.

Market Impact

Market impact analysis based on bearish sentiment with 90% confidence.

Sentiment
Bearish
AI Confidence
90%

Article Context

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Treasury calls Swiss trader ‘Kremlin’s puppet’ and says it would block its licence to operate

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Full article on Financial Times
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Original article published by Financial Times on November 7, 2025.
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