The Trump Administration’s Ukraine peace negotiations now include a multibillion‑dollar oil contract that would tap into Russian energy giant Lukoil’s worldwide refineries and gas stations.
US negotiators Steve Witkoff and Jared Kushner spearheaded the expansion, bringing in billionaire Todd Boehly and two Middle Eastern firms that have previously partnered with Kushner’s family.
Lukoil’s portfolio spans 120 refineries and 1,200 gas stations in Eurasia, the Middle East, and North America—assets that are the heart of the proposed deal.
President Vladimir Putin presented the idea during a September 5 Kremlin meeting, framing the arrangement as a way to demonstrate that Russians could still do business with the United States.
The White House, Treasury Department and Lukoil have all declined to comment outside standard business hours, signaling the sensitivity of the negotiations.
Approval of the deal hinges on simultaneous clearance from Washington and Moscow, with officials hinting that a decision could be reached within the next month.
If green‑lit, the agreement would open a new chapter in U.S.‑Russian relations, while potentially reshaping Middle Eastern investment patterns in global energy markets.