Back to today’s briefing

Story perspectives

U.S. Rejects Xtellus Bid for Lukoil's $22 Billion Assets

12/16/2025

35 8

Summary

Story summary

The U.S. Treasury rejected Xtellus Partners' bid for Lukoil's foreign assets valued at about $22 billion, stating that the use of sanctioned securities in the transaction was not permitted.
Xtellus Partners faced competition from Exxon Mobil and Chevron in the bid.
Lukoil sought to sell assets after U.S. sanctions imposed in October to encourage peace in Ukraine.
Negotiations with Lukoil have been extended to January 17, 2026.

1 of 1

Story summary

The U.S. Treasury rejected Xtellus Partners' bid for Lukoil's foreign assets valued at about $22 billion, stating that the use of sanctioned securities in the transaction was not permitted.
Xtellus Partners faced competition from Exxon Mobil and Chevron in the bid.
Lukoil sought to sell assets after U.S. sanctions imposed in October to encourage peace in Ukraine.
Negotiations with Lukoil have been extended to January 17, 2026.