UK suspends sanctions against Lukoil’s Bulgarian subsidiary
Illustrative photo: restrictions for Bulgarian companies have been “paused” until February 14 (Getty Images)
Today, November 14, the UK has suspended sanctions against the Burgas refinery and its associated gas stations, which belong to the Russian oil giant Lukoil, Reuters reports.
The UK Office of Financial Sanctions Implementation announced the issuance of a license allowing payments and money transfers to two Bulgarian companies.
Specifically, companies and banks may carry out transactions with Lukoil Neftochim Burgas AD and Lukoil Bulgaria EOOD, the operators of the refinery and gas stations, as well as their subsidiaries, until February 14.
Reuters, citing an informed source, reports that the US is also expected to issue a similar license for the Bulgarian entities at a later date.
Assen Asenov, head of Bulgaria’s State Reserve Agency, said this week that the country’s gasoline and diesel fuel stocks would last only a few weeks.
On Thursday, November 13, the Bulgarian parliament overturned the presidential veto on a bill allowing the government to take control of the Lukoil refinery and sell it to protect the asset from future US sanctions.
Sanctions against Lukoil
Earlier, the United States imposed sanctions on two Russian oil companies, Lukoil and Rosneft. Against this backdrop, several European countries where Lukoil owns refineries have begun seeking solutions to prevent the shutdown of these plants.
In addition, Lukoil announced a "force majeure" at the massive West Qurna-2 oil field in Iraq and halted its operations.
Moldovan officials are discussing with Lukoil the possibility of purchasing the company’s assets at Chișinău Airport. Specifically, Lukoil has been offered to sell its infrastructure at the airport.
