INV-053 · Money & ethics · Government deals

Lukoil foreign-asset sale and Trump-linked buyers

Stage 1 of 5: Reported · News reporting only · Last development 21 Oct 2026

US sanctions are forcing Russia's Lukoil to sell its international business, valued at $20-22 billion. The New York Times reports that the sale has become part of US-Russia talks on ending the war in Ukraine, with envoys Jared Kushner and Steve Witkoff involved, and that the proposed buyers have ties to the Trump and Witkoff families: Trump donor Todd Boehly, investment funds backed by UAE security chief Sheikh Tahnoon, and the Qatari Al-Khayyat brothers, Kushner's partners on an Albania resort project. The US International Development Finance Corporation (DFC) is also seeking a stake. Related cases: INV-003 (Kushner's Affinity Partners) and INV-016 (Witkoff, World Liberty and UAE chips).

Reported only. The deal is not final and needs US and Russian approval. No official body has opened an inquiry and there is no finding of wrongdoing. The Times says it is unclear whether Kushner or Witkoff would benefit, and Witkoff's spokeswoman says he has no financial stake.

People: Jared Kushner, Steve Witkoff, Todd Boehly, Sheikh Tahnoon bin Zayed, Al-Khayyat brothers
Agencies: Treasury Dept (OFAC), State Dept
Reviewed by: Press

Money involved

$20 billion Lukoil's international assets, valued at $20-22 billion: the size of the proposed sale, not money paid to anyone in this case (Other amounts, not totaled, estimate) [4]

Timeline

21 Oct 2026
OFAC issues General License 131K, replacing 131J: parties may keep negotiating and signing contingent contracts for the sale of Lukoil International GmbH until 21 Nov 2026. The sale itself still needs separate OFAC authorization. [10]
15 Oct 2026
OFAC extends two separate licenses to 24 Apr 2027: one for Lukoil's retail service stations outside Russia (General License 128D) and one for its Bulgarian refinery and businesses (General License 130B). [5]
9 Oct 2026
Context, separate from the Lukoil sale: after a call with Putin, Trump announces Russian diesel deliveries, and Treasury issues General License 135 allowing sales and imports of Russian-origin diesel until 7 Apr 2027. On 13 Oct a bipartisan group of 12 senators asks him to rescind it. [7]
3 Oct 2026
The New York Times reports the proposed buyers: Todd Boehly (who gave $2M to Trump's political projects), funds backed by Sheikh Tahnoon, and the Al-Khayyat brothers. The DFC is seeking a stake, and Kushner and Witkoff are helping negotiate terms to ensure 'a substantial upfront payment and profits interest for the United States'. [4]
18 Sep 2026
OFAC issues General License 131J: buyers may negotiate with Lukoil and sign contracts, but only on condition of a separate OFAC approval; the sale itself is not authorized. The license expires 22 Oct 2026. [3]
5 Sep 2026
Putin raises the sale of Lukoil's foreign assets with Kushner and Witkoff at a Kremlin meeting, according to The New York Times. One source said Putin wanted the deal done to show that Russians and Americans can do business together. [2]
22 Oct 2025
Treasury sanctions Rosneft and Lukoil, Russia's two largest oil companies. Lukoil then has to sell its foreign business, and any sale needs a US license. [1]

Responses

Witkoff spokeswoman: Said Witkoff has "no conflict of interest and no financial stake in this matter." [4]

Sources

Cite this case

Public Trust Tracker. "Lukoil foreign-asset sale and Trump-linked buyers" (INV-053). Last updated 21 Oct 2026. https://publictrusttracker.org/case/inv-053-lukoil-foreign-asset-sale-and-trump-linked-buyers/

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