Boehly Leads Swap Plan for Lukoil Assets

A consortium led by US billionaire Todd Boehly is preparing a securities swap to acquire sanctioned Russian oil major Lukoil's international assets, with a deal expected within weeks. The transaction would conclude a sale process dragging on for over a year and initially valued at $22 billion. The outcome will test whether Western sanctions can compel a major Russian company to divest overseas operations while limiting financial gains to Moscow.