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Gunvor Faces Financing and Regulatory Hurdles in Lukoil Deal

Nov 07, 2025

Russian energy group Lukoil's foreign empire is suitor Gunvor's biggest acquisition target to date but looks far beyond the Swiss trader's borrowing capacity, bankers and insiders say.Lukoil launched the sale of foreign assets on October 27 after coming under fresh U.S. and UK sanctions. Three days later it entered talks to sell to Gunvor.The Russian company is three times bigger than Gunvor if measured by equity…

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