Lukoil assets purchased at a 70% discount. The Russians will get nothing.

A consortium led by Todd Boehly has acquired frozen Lukoil securities worth billions from Western funds at a 70% discount. The deal, supported by the U.S. International Development Finance Corporation, involves exchanging shares for international assets of Lukoil, which will not benefit from the transaction. The agreement prohibits Lukoil from profiting as long as the conflict in Ukraine continues. The consortium includes investment firms from the UAE and Qatar, and the transaction is expected to finalize soon, with no cash payments involved.