Ex-pornhub owner eyes Lukoil assets after U.S. opens door to bids

A former majority owner of Pornhub has contacted the U.S. Treasury about buying overseas assets of Russian oil major Lukoil, days after Washington opened the door for companies to negotiate purchases following new sanctions.

Bernd Bergmair, an Austrian businessman, told Reuters he had expressed interest but would not discuss details. “Lukoil International GmbH would be a great investment and anybody would be fortunate to have the privilege of owning those assets,” he said. “I don’t comment on potential investments as a matter of course.”

The Biden administration sanctioned Lukoil last month and later issued guidance allowing global firms to start talks to acquire the company’s foreign holdings. Major U.S. firms Exxon Mobil and Chevron are among those exploring options.

Exxon is already in discussions with Iraq’s Oil Ministry to buy Lukoil’s 75% stake in the West Qurna-2 oilfield. The site is one of Iraq’s biggest fields, producing more than 400,000 barrels of crude per day. Iraq has invited several U.S. oil companies to join a competitive bidding process. The government has also taken over day-to-day operations, including payment of staff.

Lukoil had recently reached a preliminary deal to sell its international assets to commodity trader Gunvor for $22 billion. But the Treasury blocked the deal, calling Gunvor a “Kremlin puppet” and saying it would not approve the transaction under any circumstances.

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“President Trump has been clear that the war must end immediately,” the Treasury said in a post on X. “As long as Putin continues the senseless killings, the Kremlin’s puppet, Gunvor, will never get a license to operate and profit.”

The diplomatic backdrop remains tense. The latest peace talks between Russia and Ukraine collapsed after Moscow rejected key parts of Trump’s revised 19-point peace plan. The new plan removed an earlier offer of amnesty for war crimes and introduced tougher conditions.

Some major sticking points include:

• No free handover of the Donbas region to Russia.
• No automatic veto on a future NATO entry for Ukraine.
• A new Article 5-style guarantee that would require U.S. military intervention if Russia invades again.

Kyiv has also stepped up strikes on Russia’s energy systems. Ukraine recently attacked a shadow-fleet vessel linked to Russia in African waters, adding pressure to Moscow’s global supply chain.

As the sanctions bite and peace efforts stall, competition for Lukoil’s foreign assets is heating up. Analysts say the assets remain highly valuable, especially for Western companies looking to expand capacity in the Middle East and Europe.

Read also: Who’s buying Lukoil? Five facts behind its global assets worth $22bn for sale