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2025: Leaving Gunvor and selling $5bn stake
Swedish businessman Thorbjorn Thornqvist, who founded an oil trader with Gennady Timchenko, Gunvor leaves the company and sells an 84.79% stake to management, which is estimated at at least $5 billion. This was announced in December 2025 by Gunvor. The deal was announced after allegations US Treasury of Gunvor's ties to, Russia which prevented the trader from buying out foreign business. Lukoil The company clarified that the buyback of the share was planned from 2022, this will entail "a series of structural and management decisions designed to ensure long-term commercial success and global growth."[1]
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