Trump administration negotiations with Russia expand to include multibillion-dollar Lukoil deal

Recent reports from The New York Times indicate that the Donald Trump administration's negotiations with Russia regarding the war in Ukraine have expanded to encompass a massive energy deal. The proposed transaction involves the sale of Lukoil's international assets, valued between $20 billion and $22 billion, which includes oil fields, refineries, and fueling stations across multiple countries, including significant assets in Bulgaria and Romania.

The deal involves American investors and Middle Eastern business groups connected to US negotiators Jared Kushner and Steve Witkoff. Billionaire Todd Boehly is also reportedly involved in the effort to finalize this agreement, which requires approval from both the Kremlin and the White House. The assets contain over three billion barrels of proven and probable reserves.

This development stems from broader geopolitical efforts following the October 22, 2025, US sanctions targeting the Russian energy sector. By January 29, 2026, Lukoil had previously announced an agreement with the Carlyle Group to sell LUKOIL International GmbH. The current negotiations have transformed this commercial divestment into a key feature of the diplomatic dialogue between Washington and Moscow. Representatives from the White House, the Treasury Department, and Lukoil have not commented on the reports.