The agency "Reuters" reported, citing the news video agency, on Wednesday that an investment consortium led by American billionaire Todd Boehly is close to acquiring the international assets of the Russian oil company "Lukoil," which is subject to US sanctions, through a financial securities swap deal expected to be completed within weeks.
The agency quoted informed sources as saying that a bank working for the consortium purchased billions of dollars worth of frozen securities of "Lukoil" from American and British investment funds, at a rate of 30 cents per dollar, in preparation for exchanging them for the company's foreign assets.
The initial value of the targeted assets is about $22 billion, including oil fields, refineries, and fuel stations in Europe, the Middle East, and Africa, despite the decline in the value of some due to the cessation of its activities.
The consortium includes Emirati investors, including "International Holding" and "Al Hail Holding," along with the Al Khayyat brothers and the U.S. International Development Finance Corporation.
This deal comes after the U.S. Treasury Department rejected a previous offer to sell the assets, amid concerns about the Russian company's potential financial benefit, while the new proposal relies on placing the securities in an escrow account to avoid transferring funds directly to "Lukoil."
These moves come after previous attempts to sell the assets faltered, following the U.S. Treasury Department's rejection of a prior offer out of fear that the Russian company might financially benefit from the deal.
The new proposal aims to place the securities in an escrow account, rather than transferring their value directly to "Lukoil," in an attempt to bypass the obstacles related to U.S. sanctions and complete the acquisition process.