Gunvor Chief Says Deal for Lukoil Assets Is a ‘Clean Break’

Gunvor Group Chief Executive Officer Torbjörn Törnqvist said a deal to acquire the international assets of sanctioned Russian oil producer Lukoil PJSC represents a “clean break” for the portfolio and should pass muster with regulators.

“We believe it is satisfying all the concerns that may arise from a transaction of this magnitude and given the parties involved,” Törnqvist said in an interview with Bloomberg Television. He ruled out selling any of the assets back should sanctions on Lukoil be removed.