Kushner and Witkoff Broker Massive Lukoil Deal Amid Russia Peace Talks
Jared Kushner and Steve Witkoff have leveraged peace negotiations with Russia to secure a multibillion-dollar deal benefiting their business partners and political allies. According to The New York Times, the duo has arranged the purchase of oil fields, refineries, and gas stations owned by Lukoil, a major Russian energy company. A previous agreement to acquire Lukoil assets was stalled, but a new group of investors with ties to Kushner, Witkoff, and President Donald Trump stepped in.
The new investor group is led by Todd Boehly, co-owner of the Los Angeles Dodgers, who has donated millions to MAGA Inc. and Trump’s inauguration committee. Another key stakeholder is an Abu Dhabi-based fund controlled by Sheikh Tahnoon bin Zayed Al Nahyan, who has significant investments in Kushner’s private equity firm, Affinity Partners. Additionally, a Qatar-based conglomerate controlled by the Al-Khayyat brothers, who have financed Kushner’s luxury hotel project in Albania, is involved in the deal.
The Trump administration has indicated a willingness to make deals with Russia before the war ends, which could release the Lukoil assets from sanctions and boost their value. Hui Chen, a former Justice Department prosecutor, expressed concern about the potential influence of personal interests on the outcome of the deal. The news follows reports of Kushner’s investment firm being the largest stakeholder in Phoenix Financial, which has invested heavily in companies benefiting from Israel’s military campaign in Gaza.
Just before the Times report, Kushner denied on X that his business dealings influence his diplomatic work. The deal highlights the complex entanglements between business and diplomacy in the Trump administration, raising questions about ethical conduct and potential conflicts of interest.