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The Trump administration's talks with Russia on ending the war in Ukraine now include a multibillion-dollar oil deal involving Russian energy group Lukoil, with Middle Eastern executives tied to U.S. negotiators Steve Witkoff and Jared Kushner among the beneficiaries, the New York Times reports.
The Trump administration's talks with Russia on ending the war in Ukraine have expanded to include a multibillion-dollar oil deal that would benefit Middle Eastern business executives with ties to U.S. negotiators Steve Witkoff and Jared Kushner, the New York Times reported on Saturday.
Lukoil Oil Deal Nears Approval
The report was published on October 3, 2026. It describes a deal contingent on approval from both the U.S. government and the Kremlin. The transaction would involve a sprawling set of oil fields, refineries and gas stations around the world owned by Russian energy group Lukoil LKOH. MM, according to the newspaper.
The White House, the U.S. Treasury Department and Lukoil did not respond to requests for comment outside regular business hours. According to the New York Times, the group pursuing the deal includes U.S. investor and billionaire Todd Boehly. It also includes two Middle Eastern groups that have done business with Kushner or Witkoff's family, and an arm of the U.S. government.
Russian President Vladimir Putin raised the deal during a Sept. 5 meeting with Witkoff and Kushner at the Kremlin, the NYT said, citing people familiar with the meeting. That meeting took place at the Senate Palace of the Kremlin in Moscow on Saturday, Sept. 5, 2026. A photo from the meeting shows Putin greeting Kushner and Witkoff prior to the talks. The image was captured by Mikhail Metzel of Sputnik, distributed through the Kremlin Pool Photo via AP.
Putin Links Oil Deal to Ukraine Peace
Putin proposed completing the deal as a way to show Russians they could do business with the United States, one of the people said. The proposal places the oil transaction directly inside the broader diplomatic effort to end the war in Ukraine. The details remain unconfirmed by the companies and government bodies named in the report. The deal's fate depends on approvals from Washington and Moscow, leaving its timeline and final structure uncertain.
The reporting was by Disha Mishra in Bengaluru, with editing by Toby Chopra and Susan Fenton. Related stories accompanied the original report.
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CP24:This story was compiled and edited by the HeadTopics newsroom and HT AI from the reports above.
U.S.-Russia Talks Ukraine War Lukoil Oil Deal Steve Witkoff And Jared Kushner Vladimir Putin
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