Gunvor has withdrawn its offer to acquire Lukoil's international assets

The international energy group Gunvor Group has withdrawn its offer to purchase Lukoil's assets. This was announced on November 6 by the press service of the organization.

Earlier in the day, the U.S. Treasury Department announced its refusal to grant Gunvor a business license until the conflict in Ukraine is over.

"The US Treasury Department's statement about Gunvor is fundamentally misinformed and false. <...> [The company] has been actively distancing itself from Russia for more than a decade, ceasing trade in accordance with sanctions, selling off Russian assets and publicly condemning the conflict in Ukraine," Gunvor said in a statement posted on the social network X (formerly. Twitter).

Termination of the contract: Lukoil will sell its assets to a friendly trader

Why did the Russian company choose Gunvor and how will it affect the market?

On October 30, the press service of Lukoil announced the approval of a deal to sell 100% of the international company LUKOIL International GmbH Gunvor. It was noted that its final implementation required the approval of the Office of Foreign Assets Control of the U.S. Treasury (OFAC), as well as other licenses and permits from the authorities of other countries where the company operates.

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