U.S. Treasury Blocks Gunvor's Ambitions Amid Sanctions

The U.S. Treasury denied Swiss commodity trader Gunvor a license to acquire international assets from Russian energy giant Lukoil, citing sanctions against Lukoil. These U.S. sanctions aim to reduce revenues that Russia could use to fund its ongoing conflict in Ukraine. This decision is part of broader economic pressures on Russia.

The U.S. Treasury announced on Thursday that Swiss commodity trading firm Gunvor has been denied the ability to obtain a license for operating and profiting from international assets of Russian energy company Lukoil. This marks a significant directive from the U.S.

Last month, the Trump administration imposed sanctions on Lukoil as part of an effort to diminish Moscow's revenue streams, which are believed to be supporting Russia's military actions against Ukraine. The Treasury's clear stance against Gunvor highlights the ongoing economic pressures aimed at curtailing Russia's aggressive strategies.

This move aligns with a broader effort by the U.S. to exert financial and political pressure on Russia, intended to disrupt its financing of warfare. Gunvor's inability to proceed with its ambitions serves as a stark demonstration of the impact of these sanctions within the global energy sector.

(With inputs from agencies.)