A consortium led by American billionaire Todd Boley is preparing to exchange frozen shares of Lukoil with foreign assets of the Russian company. According to Reuters, the deal is expected to close in the coming weeks. There are no financial arrangements between the parties and the exchange, and the case was initially valued at 22 billion dollars. The consortium bank bought Lukoil securities from Western funds at a big discount - about 30 cents to the dollar. These shares are planned to be used on the stock exchange. The purchase at such a discount determines the economic logic of the exchange: the consortium expects to use cheap securities to purchase oil assets. The scope of the exchange should not include financial instruments, but existing foreign facilities: oil fields, refineries and gas stations in Europe, Africa and the Middle East. If the exchange takes place, the frozen stake will become a tool to gain control over real oil assets.

A consortium led by American billionaire Todd Boley is preparing to exchange frozen shares of Lukoil with foreign assets of the Russian company. According to Reuters, the deal is expected to close in the coming weeks. There are no financial arrangements between the parties and the exchange, and the case was initially valued at 22 billion dollars. The consortium bank bought Lukoil securities from Western funds at a big discount - about 30 cents to the dollar. These shares are planned to be used on the stock exchange. The purchase at such a discount determines the economic logic of the exchange: the consortium expects to use cheap securities to purchase oil assets. The scope of the exchange should not include financial instruments, but existing foreign facilities: oil fields, refineries and gas stations in Europe, Africa and the Middle East. If the exchange takes place, the frozen stake will become a tool to gain control over real oil assets.