Trump Administration’s Russia Talks Include Proposed Multibillion-Dollar Oil Deal

Diplomatic efforts between the United States and Russia to end the war in Ukraine have reportedly taken an unexpected economic turn. According to a New York Times report, cited by Reuters, negotiations under the Trump administration have expanded beyond a potential political settlement to include a multibillion-dollar oil deal. The proposal could benefit Middle Eastern business groups with ties to US negotiators Steve Witkoff and Jared Kushner. The deal would require approval from both the US government and the Kremlin.

The reported proposal involves oil fields, refineries and gas stations worldwide owned by Russian energy giant Lukoil. The New York Times said Russian President Vladimir Putin raised the proposal during his September 5 meeting with Witkoff and Kushner at the Kremlin, presenting it as a possible way to demonstrate that US-Russia commercial ties could resume. The group reportedly pursuing the deal includes US billionaire investor Todd Boehly, two Middle Eastern business groups and a US government arm. However, there is no confirmation that the proposed transaction has been finalized.