# U.S. Billionaire Leads Swap Plan to Buy Lukoil’s Overseas Assets, Sources Say

- URL: https://talkfuse.com/story/u-s-billionaire-leads-swap-plan-to-buy-lukoils-overseas-assets-sources-say/
- Published: 2026-11-03T16:38:14+00:00
- Updated: 2026-11-03T23:04:30+00:00
- Original publisher: The Moscow Times
- Original article: https://www.themoscowtimes.com/2026/11/03/us-billionaire-leads-swap-plan-to-buy-lukoils-overseas-assets-sources-say-a94170
- Topics: Americas, Geopolitics, Politics, World

## Key points

- Todd Boehly’s consortium is leading a bid for Lukoil’s overseas assets.
- The plan swaps frozen securities for oilfields, refineries and petrol stations.
- The portfolio was initially valued at $22 billion, but some assets have stalled.

## Summary

A consortium led by US billionaire Todd Boehly is preparing to acquire Lukoil’s overseas oil and fuel assets through a swap of frozen securities, with a deal expected within weeks, according to people familiar with the process. If completed, it would end a sale effort lasting more than a year and test whether Western sanctions can force a major Russian company to sell international holdings while limiting the financial benefit to Moscow.

The proposed cashless deal would exchange Lukoil securities held by Western investors for assets including oilfields, refineries and petrol stations across Europe, the Middle East and Africa. A bank for the consortium has bought billions of dollars’ worth of securities from about 10 US and British funds and depositary banks, at around 30 cents per dollar. The portfolio was initially valued at $22 billion, though some assets have stopped operating; the consortium also includes Emirati investors, the Al-Khayat brothers and the US DFC.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.