Former Pornhub owner reportedly interested in buying the overseas assets of sanctioned Russian oil major Lukoil

Austrian businessman Bernd Bergmair, who held a controlling stake in Pornhub’s parent company before selling it in 2023, has expressed interest in purchasing Lukoil’s overseas assets after the Russian oil major was hit by U.S. sanctions, according to a Reuters report. Two sources familiar with the matter told the news agency that Bergmair has already approached the U.S. Treasury Department for permission to pursue such a deal.

Through his lawyer, Bergmair declined to specify which assets he is targeting, whether he has already contacted Lukoil, or if he is acting as part of an investment consortium:

“Obviously Lukoil International GmbH would be a great investment and anybody would be fortunate to have the privilege of owning those assets. I don’t comment on potential investments as a matter of course.”

The United States imposed sanctions on Lukoil in October, targeting the company’s foreign holdings and effectively blocking any transactions involving them without U.S. Treasury authorization. As a result, Lukoil announced plans to sell its international business, which include European refineries, a global fuel retail network, and stakes in oil and gas projects in Iraq, Kazakhstan, Uzbekistan, and Mexico.

Interest surged in November after the Treasury granted a temporary authorization allowing potential buyers to negotiate with Lukoil. According to reporting by Reuters and Bloomberg, major global players — from Exxon Mobil and Chevron to private equity firms such as Carlyle — are considering bids. The authorization expires Dec. 13, a deadline that is intensifying the competition for assets valued at roughly $22 billion.