Private equity major Carlyle is in talks with Lukoil to potentially acquire its international operations. This follows Gunvor’s failed attempt due to U.S. government opposition. Carlyle is in early negotiations and has applied for a license. Lukoil plans to sell its international business amidst U.S. pressure on Russia.

Lukoil, a major Russian energy company, operates internationally in the Middle East, Central Asia, and Latin America. President Trump’s sanctions target Lukoil and Rosneft, which together comprise half of Russia’s oil exports. Gunvor offered $22 billion for Lukoil’s assets, but faced swift opposition from the U.S. government.

Gunvor, co-founded by a Russian businessman but now owned by others, rebutted the U.S. Treasury’s claims of being a Kremlin puppet. The U.S. government cited President Trump’s stance on ending the war in Ukraine as the reason for blocking Gunvor’s offer for Lukoil’s assets. Gunvor denies the allegations.

Carlyle’s potential acquisition of Lukoil’s international operations is in the early stages. The U.S. government has expressed opposition to the sale, citing concerns over Russian involvement. Carlyle’s application for a license is pending, with negotiations expected to progress soon. Lukoil aims to sell its international business amidst geopolitical tensions.

Read more at Yahoo Finance: Carlyle Eyes Lukoil Assets After Gunvor’s $22 Billion Deal Collapses