US-Russia Ukraine talks expand into major oil deal: Report

The United States’ talks with Russia on ending war in Ukraine are no longer confined to peace discussions. In fact it has expanded to a multi-billion dollar oil deal that would benefit Middle Eastern business executives with ties to US negotiators.

As reported by the New York Times, the massive oil transaction will involve Russian energy giant Lukoil. Moreover, the deal also covers a global network of Lukoil’s oil fields, refineries and gas stations. The deal is estimated to be worth around $20 billion. 

Speaking about the key figures involved in the deal, the purchasing group includes US billionaire Todd Boehly, alongside two Middle Eastern groups with prior business ties to US negotiators Steve Witkoff and Jared Kushner.

Russian President Vladimir Putin personally raised and proposed the deal during a September 5 meeting with Witkoff and Kushner in Moscow, calling it as a way to demonstrate that Russia and the US can conduct business.

For the deal to move forward, it requires formal approval from both the US government and the Kremlin, intertwining high-stakes diplomacy over the ongoing conflict with major commercial energy interests.

However, The White House, the ​US Treasury Department and Lukoil didn't respond to ​these reports.