U.S.-Russia talks on Ukraine involve multi-billion dollar oil deal: report
Reports indicate that U.S. negotiators are discussing a multibillion-dollar oil deal involving Russian energy group Lukoil as part of broader talks to end the war in Ukraine. The deal reportedly involves business associates of U.S. officials and has been discussed directly with President Vladimir Putin.
Why it matters
The potential involvement of U.S. officials' business associates in a deal with a sanctioned Russian entity raises significant questions about conflicts of interest and foreign policy ethics.
The Trump administration’s talks with Russia on ending the war in Ukraine have expanded to include a multibillion-dollar oil deal that would benefit West Asian business executives with ties to U.S. negotiators Steve Witkoff and Jared Kushner, the New York Times reported on Saturday (October 3, 2026).
The deal, which is contingent on approval from the U.S. government and the Kremlin, involves a sprawling set of oil fields, refineries and gas stations around the world owned by Russian energy group Lukoil, according to the report.
The White House, the U.S. Treasury Department and Lukoil didn’t respond to requests for comment outside regular business hours.
The group pursuing the deal includes US investor and billionaire Todd Boehly, two West Asian groups that have done business with Mr. Kushner or Mr. Witkoff’s family, and an arm of the U.S. government, the newspaper said.
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