According to a report by The New York Times, the United States has offered Russia three major economic incentives in an effort to persuade Moscow to accept a limited ceasefire covering energy facilities or naval operations.
According to a report by The New York Times, the United States has offered Russia three major economic incentives in an effort to persuade Moscow to accept a limited ceasefire covering energy facilities or naval operations. The proposals include releasing billions of dollars in Russia’s frozen sovereign assets, potentially reviving an earlier plan involving as much as $100 billion; selling stakes in Russian oil giant Lukoil to Middle Eastern investors, some of whom have business ties to US negotiators; and allowing Belarus to resume potash exports, which would also generate substantial revenue for the country.
US envoys Steve Witkoff and Jared Kushner have revived these proposals. The frozen assets could potentially be released as an initial incentive rather than after a ceasefire comes into effect. According to the newspaper, President Donald Trump’s envoys met Russian President Vladimir Putin at the Kremlin on September 5. The discussions covered the war in Ukraine as well as the potential sale of Lukoil’s overseas assets. The New York Times reported that Putin himself raised the issue.
Lukoil was subjected to US sanctions in the autumn of last year, after which the company began efforts to sell its overseas assets, valued at approximately $20 billion. According to the Financial Times, the group of investors interested in acquiring these assets includes Todd Boehly, the former co-owner of Chelsea Football Club; Sheikh Tahnoon, the brother of the president of the United Arab Emirates; and Qatar’s Al-Khayat family. All reportedly have connections with the Trump and Witkoff families. However, The New York Times stated that there is no evidence that Kushner or Witkoff would personally benefit from the deal. US approval to lift sanctions on the assets would remove restrictions on their sale and could immediately increase their value.
