Gunvor plans to buy international assets of Lukoil“

Gunvor plans to buy Lukoil's international assets - the company was founded by an oligarch from Putin's inner circle

Russian oil company “Lukoil” said it had accepted an offer to acquire its international assets from an energy group Gunvor Group, founded by the oligarch Gennadiy Timchenko - a long-time ally of Vladimir Putin.

Gunvor, Russia's largest oil trader, may gain control over Lukoil's foreign assets“

According to the “Espresso” citing sources in the company, Lukoil agreed not to negotiate with other potential buyers until the deal is finalised.

Gunvor Group was incorporated in 2000 in Cyprus, but operates through offices in Switzerland, Singapore, the United Kingdom and other countries. The company has become known as one of the world's largest traders of Russian oil, In particular, even before 2014, it had a significant share of the energy export market from Russia.

After the introduction of Western sanctions against Russia, Gunvor publicly announced a reduction in the share of Russian oil in its supplies. However, a number of experts have repeatedly pointed out that the company retains informal ties with the kremlin and continues to indirectly participate in the supply of Russian energy resources.

Analysts suggest that a possible acquisition of Lukoil's international assets could be an attempt to restructure Russian capital, This will partially circumvent western restrictions on the energy sector in Russia.