Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Swiss firm Gunvor pulls $14B bid for Lukoil assets after U.S. blocks deal over Russia ties.

flag Swiss commodity trader Gunvor has withdrawn its $14 billion bid to acquire Lukoil’s international assets after the U.S. Treasury labeled it a “Kremlin puppet” and signaled it would not approve the deal, citing sanctions efforts against Russia. flag The proposed acquisition included European refineries, oilfield stakes, and 2,000 fuel stations. flag Gunvor called the characterization false, noting it severed ties with Russia in 2014 and condemned the war in Ukraine. flag The deal was deemed unlikely to proceed due to U.S. licensing restrictions and financial constraints.

47 Articles