Bulgarian Parliament overturns presidential veto on Russia's Lukoil purchase — Reuters
Photo: Bulgarian parliament overturns presidential veto on Lukoil refinery purchase (Getty Images)
The Bulgarian parliament has overturned the president's veto on a bill allowing the government to take control of Lukoil's oil refinery and sell it to protect the asset from future US sanctions, Reuters reports.
Last week, lawmakers approved changes giving a government-appointed commercial manager the authority to control the continued operation of Lukoil's oil refinery in Bulgaria after November 21, when US sanctions are set to take effect, and to sell the company if necessary.
Subsequently, President Rumen Radev vetoed the bill on Wednesday, warning that it lacked guarantees against future financial claims against the state. Today, parliament rejected his objection by 128 votes to 59.
Earlier, US sanctions raised concerns about winter fuel supplies to Bulgaria, where Lukoil operates the Burgas oil refinery, hundreds of gas stations, and fuel storage facilities.
Sanctions against Lukoil
The United States imposed sanctions on two Russian oil companies, Lukoil and Rosneft, a few weeks ago.
Against this backdrop, several European countries where Lukoil has refineries have begun to seek solutions to prevent the plants from shutting down.
In addition, Lukoil reported a force majeure at the giant West Qurna-2 oil field in Iraq and suspended its operations.
Moldovan officials are discussing with Lukoil the possibility of purchasing the company's facilities at Chisinau Airport. In particular, Lukoil was offered to sell the airport infrastructure, including the aviation fuel depot.
