The major Russian oil producer owns Bulgaria’s biggest refinery, over 200 gas stations, and an extensive fuel transport network
Bulgaria has partly restricted fuel exports to EU states amid security and supply concerns following the recent US sanctions on Russia’s Lukoil. The oil major controls the Baltic country’s largest refinery, Neftochim Burgas, and over 200 gas stations under Lukoil Bulgaria.
Washington imposed sanctions on Lukoil and another Russian energy major, Rosneft, last week, alleging a lack of commitment by Moscow to the Ukraine peace process. Russia says it remains open to talks but wants a comprehensive deal addressing the root causes of the Ukraine conflict.
Bulgaria’s parliament approved a temporary ban on Friday on exports of certain fuels – mainly diesel and jet fuel – to other EU nations. It passed with 135 votes in favor, 4 against, and 42 abstentions.
Lawmakers called it a preventative step to protect domestic supplies, curb speculation, and avert shortages linked to sanctions. They warned that Lukoil’s holdings in key Bulgarian energy assets could fall under US sanctions, limiting their access to global banking and dollar-based supply chains.
Read more Trump brushes off Hungarian PM’s pleaThe ban excludes gasoline, as national output exceeds domestic demand, as well as the refueling of aircraft, ships, and military deliveries for EU and NATO forces. The customs agency was instructed to enforce the restrictions but may authorize limited exports in special cases.
Some lawmakers opposed the decision, calling it a panic reaction, while others urged consultation with Brussels to ensure there would be no countermeasures affecting Bulgaria’s fuel imports from the wider EU. The ban will take effect upon publication in the State Gazette, though the duration remains unclear.
Earlier this week, Lukoil announced it had accepted an offer from global commodity trader Gunvor to purchase its subsidiary, Lukoil International GmbH, which manages all its foreign assets – a move it said is part of the company’s efforts to shield its operations from further restrictions.
READ MORE: Russian oil giant names buyer of foreign assets
Russia has condemned the Western sanctions, calling them politically motivated and illegal, while warning that they will backfire. The Kremlin maintains that sanctions targeting energy are contrary to the principles of free trade, arguing that they could destabilize global energy markets and drive fuel prices higher.
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