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US-Russia talks on Ukraine involve multi-billion dollar oil deal, NYT reports

By Thomson Reuters Oct 3, 2026 | 5:29 AM

Oct 3 (Reuters) – 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 US negotiators Steve Witkoff and Jared Kushner, the New York Times reported on Saturday.

The deal, ‌which ​is contingent on approval ⁠from the US government ⁠and the Kremlin, involves a sprawling set of oil fields, refineries and gas stations around the world owned by ​Russian energy group Lukoil, according to the report.

The White House, the US Treasury ⁠Department and Lukoil didn’t ⁠respond to requests for comment ​outside regular business hours.

The group pursuing the ​deal includes US investor and billionaire Todd Boehly, ‌two Middle Eastern groups that have done business with Kushner or Witkoff’s family, and an arm of the US government, ⁠the newspaper said.

Russian President Vladimir Putin raised the deal during a September 5 meeting with Witkoff ⁠and Kushner ‌at the Kremlin, the NYT ⁠said citing people familiar with ​the ‌meeting. Putin proposed completing the ​deal as ⁠a way to show Russians they could do business with the United States, one of the people said.

(Reporting by Disha Mishra in Bengaluru; Editing by Toby Chopra and ​Susan Fenton)