The two biggest deals of Torbjörn Törnqvist’s life have happened because of US sanctions.
In 2014, sanctions on his Russian partner handed him control of the energy trader they’d co-founded. Now eleven years later, the billionaire head of Gunvor Group is again seizing on an opportunity created by American sanctions with a company-transforming deal that taps into a history of close ties in Russia — but needs goodwill in Washington to succeed.
Torbjörn Törnqvist
Photographer: F. Carter Smith/Bloomberg
If he can pull it off, Gunvor’s purchase of the international assets of Lukoil PJSC, Russia’s second-largest oil producer, will catapult the energy trader into the ...
