Trump Administration Negotiates Multi-Billion Dollar Lukoil Asset Deal with Russia
The Trump administration is engaged in negotiations with Russia over a multi-billion dollar deal involving Lukoil's foreign oil assets. The complex agreement, valued at $20 billion, includes Lukoil's oil fields in Cameroon and refineries in the Netherlands, Bulgaria, and Romania.
Leading the American side are Stephen Witkoff and Jared Kushner, who are working alongside prominent Middle Eastern businessmen to facilitate the deal. The U.S. government is seeking a stake through the U.S. International Development Finance Corporation (DFC), while an investment fund from Abu Dhabi, controlled by Sheikh Tahnoon bin Zayed Al Nahyan, is also involved.
Notably, this fund acquired a large portion of World Liberty Financial, a crypto company co-founded by Witkoff's family that generated $799 million for Trump in 2025. The deal envisions the U.S. government securing a stake in Lukoil's assets, despite ongoing U.S. sanctions against Russia.