Russia's major energy company Lukoil has agreed to sell its foreign assets management company, LUKOIL International GmbH, to the trading company Gunvor Group. This was reported by Zamin.uz.
In an official statement, Lukoil emphasized that the company accepted Gunvor's offer and committed not to negotiate with other buyers. It was noted that this decision was caused by sanctions and restrictions imposed on Lukoil and its enterprises by certain countries.
However, the financial details of the agreement were not disclosed. Gunvor Group was founded in 2000 by Torbjorn Tornqvist and Gennady Timchenko.
Timchenko is mentioned in many sources as a businessman close to Vladimir Putin. Gunvor has long operated as one of the largest international traders exporting Russian oil abroad.
