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Media: US and Russia hold talks on major oil deal

03 October 2026 18:11 (UTC +04:00)

The United States and Russia are holding talks on a major oil deal, The New York Times reports.

It was noted that US President Donald Trump’s special envoy Steve Witkoff and the US leader’s son-in-law Jared Kushner are also discussing a multibillion-dollar oil deal with Moscow in parallel with negotiations aimed at ending the war in Ukraine.

According to the publication, the deal concerns oil fields, refineries and filling stations owned by Russia’s Lukoil in various countries around the world.

The large-scale deal, covering various assets ranging from oil fields in Cameroon and refineries in Europe to a network of filling stations in New Jersey, requires the approval of both the US government and the Kremlin.

According to the publication, Russian President Vladimir Putin raised the issue of the deal during a meeting with Witkoff and Kushner at the Kremlin on September 5. Citing informed sources, the newspaper wrote that, according to one of the people familiar with the talks, Putin proposed concluding the deal in order to demonstrate to Russians that doing business with the United States remains possible.

The New York Times writes that, ultimately, the conclusion of the oil deal depends on decisions by Putin and Trump.

The White House, the US Treasury Department and Lukoil did not respond to requests for comment sent by The New York Times journalists.