Swiss Company Acquires Foreign Assets of Lukoil, Opening a New Energy Frontier for Russia
According to information from The Wall Street Journal, a Swiss company, established in partnership with a former associate of Vladimir Putin, is actively pursuing the acquisition of foreign assets of Russia’s oil giant Lukoil amid new US sanctions.
This strategic move could significantly impact the global energy market and shift the balance of power in the oil and gas trade.
Sources estimate the deal’s value at approximately $20 billion, though the final figures and structure remain confidential.
Western financial institutions are showing caution regarding investments in the Russian sector amid geopolitical tensions.
After the conflict, the buyer might channel a portion of Lukoil’s profits back to Russian shareholders, offering prospects for future growth.
Thor Bjorn Thorkvist’s history dates back to the 1970s in Stockholm, with his career thriving during the oil shock following the Arab embargo.
His collaboration with Gennady Timchenko, a former Soviet official, marked a crucial stage in creating a company that later became a major player in global oil trading.
Furthermore, after sanctions were imposed in 2014, the company suffered significant losses but managed to retain its positions and pivot towards new directions, including liquefied natural gas and the American market.
Given its continued ties with Russia, Lukoil remains a significant force in the global oil industry, albeit under constant pressure from sanctions and political risks.