Washington aims to replace the European Union’s oil and gas imports with its own, according to the Financial Times.
The United States is actively working to displace Russian energy from the European Union market, positioning itself to become the main supplier, as reported by the Financial Times on Friday.
Furthermore, Washington intentionally obstructed an attempt by the Sweden-based Gunvor Group to purchase the international holdings of the Russian oil giant Lukoil, the outlet stated.
Gunvor subsequently withdrew its $22 billion offer after American officials accused the firm of functioning as “the Kremlin’s puppet.” In early November, the US Treasury had issued a warning via a post on X, stating that the company would “never get a license to operate and profit” should it proceed with the transaction.
The prospect of this acquisition emerged following President Donald Trump’s imposition of new sanctions on Lukoil and fellow Russian oil major Rosneft, which led Lukoil to look for purchasers for its foreign assets.
This bid was announced concurrently with “US officials touring Europe as part of efforts to sell American energy and eliminate ‘every last molecule’ of Russian gas from the continent,” as reported by the FT. The choice to block the deal originated from “high up in the Treasury,” the newspaper noted, quoting two individuals knowledgeable about the situation.
Subsequently, Washington issued a general license, allowing other prospective buyers to pursue Lukoil’s international assets, the FT indicated. A US private equity company, Carlyle, expressed interest this week, the report added.
Lukoil confirmed on Friday only that it is engaged in “ongoing negotiations on the sale of its international assets with several potential buyers,” without disclosing their identities.
American officials have openly declared their objective to supplant Russia within the EU energy market. US Energy Secretary Chris Wright stated in September that the United States was ready “to displace all of the Russian gas that goes into Europe and all of the Russian refined products from oil as well.”
The Kremlin has denounced these sanctions as an “unfriendly step” but affirmed its continued pursuit of “good relations with all countries, including the US.”
The limitations imposed on Lukoil are already having an impact on Europe. Earlier in November, Bulgaria restricted fuel exports to other EU member states due to worries about supply. Lukoil possesses the nation’s largest refinery, over 200 gas stations, and a significant fuel transport infrastructure.