Swiss commodity trader Gunvor said on Thursday that it was scrapping its $22bn bid to buy Lukoil’s overseas assets after the US moved to block the deal.
The Treasury said in a post on X on Thursday that it would not grant a licence for Gunvor to operate Lukoil’s assets “as long as Putin continues the senseless killings” in Ukraine.
It described Gunvor, which was founded by a close ally of Russian President Vladimir Putin but has sought to distance itself from the country, as the “Kremlin’s puppet”.
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