Bulgaria to cut ties with Russia's Lukoil after US sanctions
Photo: Russia's Lukoil operates Bulgaria's largest oil refinery (Getty Images)
Bulgarian Justice Minister Georgi Georgiev said that Lukoil's refinery in Burgas meets the criteria for US sanctions. Today, October 24, the country's parliament passed an amendment requiring the government and intelligence services to give their consent before the sale of assets of the Russian company, Reuters reported.
Bulgarian Energy Minister Zhecho Stankov said that the country is preparing measures to ensure the supply of oil and petroleum products after the imposition of sanctions against Lukoil. The Russian company operates the country's largest oil refinery.
"This is an extremely important situation in which we, with the interested parties, including our European partners ... will have the opportunity ... to build a common European action plan for the situation that has arisen," he said.
The Bulgarian government is currently in contact with US authorities to ensure that the plant can continue to operate. Stankov added that the country's plan will include monitoring fuel reserves.
"Bulgarian citizens should be calm, fuel is provided. Until the end of the year, the quantities are guaranteed," he stressed.
The Bulgarian Minister of Justice said that the country has taken additional measures to ensure capacity, labor, and other security measures at the refinery.
Trump's sanctions
US leader Donald Trump has imposed tough sanctions on Russian oil companies Rosneft and Lukoil.
According to Bloomberg, Russian oil flows to India, which rose sharply after the invasion of Ukraine, will soon be reduced to almost zero.
At the same time, Reuters sources reported that US sanctions have prompted Chinese state-owned oil companies to suspend purchases of Russian oil in the short term.
