U.S.-Russia Talks Expand to Include Multi-Billion Dollar Oil Deal, Report Says

U.S. and Russia explore multi-billion dollar oil deal amid Ukraine talks, reports reveal.

October 4, 2026 One Min Read

POLICY WIRE — New York, United States — U.S.-Russia discussions on the Ukraine conflict have broadened to include a potential multibillion-dollar oil agreement, according to a recent report.

The proposed deal involves Russian energy company Lukoil’s global network of oil fields, refineries, and gas stations, and is dependent on approval from both the U.S. government and the Kremlin, as per the New York Times.

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The effort includes U.S. investor Todd Boehly, two West Asian business groups linked to Trump administration figures Steve Witkoff and Jared Kushner, and a U.S. government entity. Russian President Vladimir Putin reportedly raised the matter during a September 5 meeting with Witkoff and Kushner at the Kremlin, aiming to demonstrate that Russia could conduct business with the U.S., sources told the newspaper.

Reporting by Policy-Wire (PW)

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