In the business world, where oil and adult entertainment seem like polar opposites, an event worthy of a Hollywood script has taken place. Austrian entrepreneur Bernd Bergmeier, former majority owner of the popular porn site Pornhub, approached the US Treasury Department with an offer to buy the international assets of Russian oil company Lukoil. This news, which spread through the world media on December 3, 2025, highlights how unpredictable global financial flows can be in an era of sanctions and geopolitical turmoil.
The story began on October 22, 2025, when the US and the UK imposed sanctions on Lukoil and Rosneft in response to the lack of progress in peace talks on Ukraine. Lukoil, one of Russia’s largest oil producers (accounting for about 2% of global oil production), found itself trapped: its international operations, including subsidiaries in Europe, Asia, and Africa, were frozen. On October 27, the company officially announced that it was looking for buyers for its foreign assets in order to comply with the requirements of the US Treasury’s Office of Foreign Assets Control (OFAC) license.
On November 14, Lukoil confirmed that negotiations had begun with several potential buyers. The US Treasury Department extended the deadline for the deal until December 13, opening a window of opportunity for investors. The estimated value of the international assets is between $12 billion and $15 billion, making them a tempting target for major players. However, Bergmeier’s financial capabilities (his fortune is 10 times smaller) suggest that he may participate through partners or focus on individual assets, such as Lukoil International GmbH in Switzerland.
Previously, American oil giants Exxon Mobil and Chevron (which already have stakes in Lukoil), as well as the Carlyle investment fund, expressed interest in the assets. In addition, in November, Lukoil almost concluded a deal with energy trader Gunvor Group, but it fell through due to new statements from the US Treasury Department.
If Bergmeier’s proposal is approved, it will be a striking example of diversification: from the porn industry to the oil business. For Lukoil, selling assets is a way to minimize losses and maintain operational stability. The company has already applied for a license extension to avoid chaos in supplies.
However, the deal is fraught with risks. Sanctions continue to tighten, and geopolitical tensions could block the transaction. For Bergmeier, this is a chance to significantly increase his capital, but there are also reputational risks: association with Russian assets in the era of the “oil war” could scare off partners. Experts note that interest in Lukoil’s assets is growing, but the final deal is likely to go beyond December.
This story illustrates how sanctions are reshaping the global business landscape, turning oil assets into a hunting ground for the most unexpected players. From Goldman Sachs to Pornhub, and now to Lukoil, Bergmeier’s career proves that there are no forbidden topics in the world of investment. Only time will tell if the Austrian will be a successful contender, but one thing is clear: 2025 will be remembered as the year when adult businessmen set their sights on oil empires. Stay tuned for updates: negotiations are in full swing.