Swiss oil trader Gunvor has withdrawn from purchasing Lukoil’s international assets after a U.S. statement calling it a “Kremlin puppet.”

According to Politico, upon learning about the deal, the U.S. Department of the Treasury described Gunvor as “a Kremlin puppet” and made it clear that Washington would not approve the transaction.

“President Trump has made it clear that the war must end immediately. As long as Putin continues his senseless killings, the Kremlin puppet Gunvor will never receive a license to profit,” the department said.

The Swiss oil trader called the accusation “fundamentally wrong” but withdrew its bid to purchase Lukoil’s assets.

The Lukoil assets that Gunvor had planned to acquire included oil refineries in Europe, shares in oil fields in Kazakhstan, Uzbekistan, Iraq, and Mexico, as well as hundreds of gas stations worldwide.