A Swiss-based oil-trading firm co-founded by Torbjörn Törnqvist, a Swede. In 2025 Gunvor offered to buy Lukoil's $22bn portfolio of foreign plants, petrol stations and wells, reviving suspicions it was cosy with the Kremlin. America blocked the sale. Törnqvist left the firm in 2025, selling his stake to staff.
Ninety percent of the time things turn out worse than you thought they would. The other ten percent of the time you had no right to expect that much.