U.S. and Britain block Gunvor’s energy operations amid Ukraine conflict

A major blow to Russia’s energy ambitions as sanctions tighten. Gunvor’s bid to acquire foreign assets collapses under U.S. and UK restrictions.

, and Administrator

2025 November 7 . 7:22 AM

1 min read

In the image there is a book with army tank and jeeps on it, it seems like a war along with a text... — In the image there is a book with army tank and jeeps on it, it seems like a war along with a text above it.

U.S. and Britain block Gunvor’s energy operations amid Ukraine conflict

Gunvor, a prominent Russian-controlled energy firm, has been denied a license to operate in the U.S. and Britain until the conflict in Ukraine is resolved. The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has prohibited the company from conducting business and generating profits during the ongoing crisis. Previously, U.S. and British authorities had imposed sanctions on Russia's Lukoil, which had planned to sell its foreign assets. Gunvor, a major international energy firm specializing in oil and gas trading, owning refineries, terminals, pipelines, and a fleet of vessels for fuel transportation, had expressed interest in purchasing these assets. However, the U.S. Treasury has now emphasized that no licenses will be issued to Gunvor until the conflict concludes. The announcement does not specify the type of licensing being referenced. The U.S. Treasury's statement, published on November 6, cites President Donald Trump's call for an immediate cessation of hostilities in Ukraine. Gunvor, considered under Russian control, will not receive a license to operate until the conflict is resolved, effectively barring the company from conducting business and generating profits in the U.S. and Britain during the ongoing crisis.