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Gunvor CEO Tornqvist: Lukoil assets won't be sold back, Bloomberg News reports
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Gunvor CEO Tornqvist: Lukoil assets won't be sold back, Bloomberg News reports
Nov 4, 2025 3:54 AM

Nov 4 (Reuters) - Commodities trader Gunvor Group is

prepared to satisfy any concerns about continued Russian

influence over assets it is buying from Russia's Lukoil

, CEO Torbjorn Tornqvist has told Bloomberg News.

Last week, Lukoil said it had accepted an offer from Gunvor

to buy its foreign assets, which it is selling after U.S.

sanctions were imposed on Russia's second-largest oil company.

Swiss-headquartered Gunvor, which has longstanding ties to

Russia's energy industry, has begun talks with regulators over

the planned purchase, Bloomberg News reported on Tuesday.

Tornqvist ruled out a scenario where any of the assets would

be sold back should sanctions on Lukoil be removed.

He said the deal would mark a "clean break" from Russian

control, but added that some of the assets could be sold on.

U.S. sanctions imposed last month on Russia's largest oil

companies, Rosneft and Lukoil, marked Washington's

toughest measures against Russian business since the start of

the war in Ukraine in 2022.

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