Jeremy Paner Discusses Unprecedented Proposed Lukoil Sale with The New York Times
Transaction involves the sanctioned international assets of the second largest Russian oil producer.
Highlights
Proposed deal would involve Lukoil's sanctioned assets throughout Europe, Africa, Mexico and the Middle East, as well as 200 gas stations in the United States.
The transaction would result in direct U.S. government ownership of the assets, with majority interest to Middle Eastern investors who maintain close business ties with the Trump family.
Paner notes the unprecedented nature of the proposed arrangement.
Jeremy Paner was quoted in The New York Times on a proposed transaction involving the international assets of sanctioned Russian energy giant Lukoil and the unusual role the U.S. government could play in the transaction.
The article reports that the proposed multibillion-dollar deal would transfer a global portfolio of oil fields, refineries and gas stations currently owned by Lukoil to a consortium of investors, subject to approval by the U.S. Treasury Department.
According to the article, the transaction would result in the U.S. government obtaining an ownership stake in the sanctioned assets. A group led by a prominent Trump donor would also receive a minority interest, with the majority going to Middle Eastern investors closely connected to the Trump family.
“I cannot recall any remotely similar arrangement in the 20 years I’ve focused on sanctions,” Paner said.
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