Swiss commodity trader Gunvor said on Thursday it has withdrawn its proposal to buy foreign assets of Russian energy company Lukoil, opens new tab after the U.S. Treasury called it Russia's "puppet" and signaled Washington opposed the deal.

Axar.az informs, citing Reuters, the move scuttles what would have been Gunvor's largest acquisition and underscores Washington's attempt to use sanctions to isolate Russia and choke revenues it uses to fight the war in Ukraine.

The U.S. Treasury said in a post on X that President Donald Trump "has been clear that the war must end immediately. As long as (Russian President Vladimir) Putin continues the senseless killings, the Kremlin's puppet, Gunvor, will never get a license to operate and profit."