From New York Post · · 1m 30s
Trump-backed Lukoil bid targets US Treasury with oil refineries
Trump administration's Lukoil deal could deliver billions to US Treasury by restarting refineries.
In brief
Trump administration's Lukoil deal could deliver billions to US Treasury by restarting refineries. Trump administration's Lukoil deal aims to restart refineries and deliver billions to US Treasury. Originally reported by New York Post.
Trump administration backs Lukoil deal
The Trump administration is backing a deal for Russian oil giant Lukoil’s overseas assets that aims to deliver billions to the US Treasury and restart shuttered refineries.
Consortium targets 350,000 barrels daily
A consortium led by investor Todd Boehly and including the US International Development Finance Corporation (DFC) seeks to purchase fields producing over 350,000 barrels of oil equivalent a day across Asia, Europe, Africa, and North…
DFC stakes in $20 billion deal
Officials state the assets are valued at about $20 billion with profits flowing to the US Treasury’s coffers through the DFC’s stake.
Signing expected in two weeks
DFC officials working with the private consortium say a signing is likely within the next two weeks despite complications involving multiple stakeholders.
DFC’s role in foreign policy
One agency official described the DFC’s involvement as unprecedented, saying it could play an increasingly important role in foreign policy.
International partners in consortium
The consortium includes the UAE and Qatar, raising eyebrows but officials say international participation is crucial to ensure Lukoil accepts the transaction.
Russia’s payout structure
Russia’s payout would sit in international accounts out of Moscow’s reach but could be worth billions if sanctions are lifted.
In short
Trump administration's Lukoil deal aims to restart refineries and deliver billions to US Treasury.
