Economist Steve Hanke criticized Jared Kushner's role in U.S.-Russia diplomacy after a report said negotiations over ending the Ukraine war had expanded to include a multibillion-dollar deal involving international assets of Russian oil producer Lukoil.

Hanke Questions Kushner's Diplomatic Role

"Trump's son-in-law Jared Kushner has more conflicts of interest than you can shake a stick at," Hanke, a Johns Hopkins University applied economics professor, wrote on X. "When he plays diplomat, it's even hard to tell what country he represents, if any."

The New York Times reported on Saturday that the proposed transaction covers Lukoil oil fields, refineries and gas stations worldwide and would require approval from both the U.S. government and the Kremlin. The investor group reportedly includes billionaire Todd Boehly, two Middle Eastern groups that have done business with Kushner or envoy Steve Witkoff's family, and a U.S. government arm.

Putin Raises Lukoil Deal During Talks

Russian President Vladimir Putin raised the deal during a Sept. 5 Kremlin meeting with Kushner and Witkoff, according to the report. The two envoys had met Putin for more than three hours as Washington pushed "substantive plans" to revive negotiations over the war. Putin reportedly presented the Lukoil transaction as a way to show Russians they could still do business with the United States.

The commercial discussions surfaced alongside a broader U.S. peace push. Witkoff later said American negotiators had made "substantive progress" after shuttling between Moscow and Kyiv, with movement toward additional trilateral talks involving the United States.

Kremlin Acknowledges Energy Cooperation Discussions

Reuters notes that the Kremlin on Monday declined to comment directly on the Lukoil report although Spokesperson Dmitry Peskov nevertheless acknowledged that Russian and U.S. negotiators had discussed energy cooperation.

The proposed transaction remains unfinished, while Washington and Moscow would both need to approve any deal.

The White House and the Treasury Department did not immediately respond to MarketDash's request for a statement.

Kushner has repeatedly joined Witkoff in President Donald Trump's effort to broker an end to the war, including the Sept. 5 Moscow meeting and subsequent contacts with Ukrainian officials. Earlier this year, Trump asked the pair to continue negotiations as Washington tried to revive stalled diplomacy.