A consortium of investors led by American billionaire Todd Boali intends to gain control of Lukoil's foreign portfolio, Reuters reports, citing four sources. The total value of the deal is estimated at 22 billion dollars, according to the agency, it may be completed within a few weeks. The bank, acting in the interests of the consortium, has already purchased frozen Lukoil securities from Western investment funds. They are designed to be replaced by the company's international assets, rather than cash. Therefore, the agency notes, Lukoil will not receive direct financial benefits from the sale - this was a key condition of the US Treasury. To ensure this, the consortium agreed to hold the repurchased shares in an escrow account until the exchange was completed. Lukoil's assets abroad include oil fields, refineries and gas stations in Europe, the Middle East and Africa. Initially, the portfolio was valued at $22 billion, however, according to sources, the current value may be lower, since some of the assets stopped operating. In particular, the transaction is expected to include Lukoil refineries in Bulgaria, Romania and the Netherlands. In addition to the Buali structure, the group includes the Emirati investors International Holdings Company (IHC) and Al Hail Holding, the Syrian-Qatari businessmen Al-Hyatt Brothers and the American International Development Finance Corporation (DFC). Lukoil put its foreign assets up for sale after the United States imposed sanctions against the company in October 2025.

A consortium of investors led by American billionaire Todd Boali intends to gain control of Lukoil's foreign portfolio, Reuters reports, citing four sources. The total value of the deal is estimated at 22 billion dollars, according to the agency, it may be completed within a few weeks. The bank, acting in the interests of the consortium, has already purchased frozen Lukoil securities from Western investment funds. They are designed to be replaced by the company's international assets, rather than cash. Therefore, the agency notes, Lukoil will not receive direct financial benefits from the sale - this was a key condition of the US Treasury. To ensure this, the consortium agreed to hold the repurchased shares in an escrow account until the exchange was completed. Lukoil's assets abroad include oil fields, refineries and gas stations in Europe, the Middle East and Africa. Initially, the portfolio was valued at $22 billion, however, according to sources, the current value may be lower, since some of the assets stopped operating. In particular, the transaction is expected to include Lukoil refineries in Bulgaria, Romania and the Netherlands. In addition to the Buali structure, the group includes the Emirati investors International Holdings Company (IHC) and Al Hail Holding, the Syrian-Qatari businessmen Al-Hyatt Brothers and the American International Development Finance Corporation (DFC). Lukoil put its foreign assets up for sale after the United States imposed sanctions against the company in October 2025.