Delyan Dobrev: No disruptions expected in Bulgaria’s oil market despite sanctions on Lukoil
No disruptions are expected in Bulgaria’s fuel market as a result of the U.S. sanctions imposed on Lukoil, said Delyan Dobrev, chairman of the Parliamentary Committee on Budget and Finance, after today’s committee meeting, BTA reported.
“The Bulgarian Parliament acted proactively. About three weeks ago, we adopted at first reading — both in committee and in plenary — a bill stipulating that any sale of Lukoil assets must receive approval from the state: first from the State Agency for National Security (SANS), and then from the Council of Ministers. So, we have already taken preventive measures, ”
Dobrev stated.
He assured that there is no reason for concern among consumers.
“I do not expect any kind of disruptions in the fuel market. People should remain calm, ”
he said, adding that the European market is large and there are many fuel producers.
According to Dobrev, the imposed sanctions are not of a nature that would hinder the normal operation of the Lukoil refinery in Bulgaria.
When asked by BTA whether the sanctions could delay or accelerate a potential sale of Lukoil’s assets in Bulgaria, Dobrev replied that they could have an impact in either direction.
“The owner is a private entity, but it’s possible that the sanctions may affect such a hypothetical sale, ”
he noted.
Late last night (Bulgarian time), the U.S. Department of the Treasury announced new restrictions targeting Rosneft, Lukoil, and their subsidiaries. Washington clarified that the sanctions do not apply to transactions involving the Caspian Pipeline Consortium (CPC) and Tengizchevroil, which temporarily limits the impact on part of international energy flows.
Earlier, the European Union officially approved its nineteenth package of sanctions against Russia. Among the new measures are a ban on EU countries purchasing Russian liquefied natural gas (LNG) and sanctions against more than 100 tankers transporting Russian oil.
