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Gunvor Pulls Lukoil Bid After U.S. Treasury Labels Firm a ‘Russian Puppet’
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Why This Matters
Gunvor has withdrawn its $22 billion bid for Lukoil's international business following U.S. Treasury Department's criticism and labeling the company a 'Russian puppet'. This action signals increased scrutiny and potential sanctions against companies perceived to be aiding Russia, impacting deal-making in the energy sector.
Market Impact
Market impact analysis based on bearish sentiment with 90% confidence.
Sentiment
Bearish
AI Confidence
90%
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
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…
Original article published by
OilPrice.com
on November 7, 2025.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.