Bulgaria Moves to Secure Burgas Refinery Amid Lukoil Sanctions

Bulgaria's ruling party plans to introduce legislation allowing a special manager to oversee the sale of the Burgas oil refinery, currently under U.S. sanctions due to its ownership by Russian company Lukoil. This move aims to ensure continuous operations amidst Western restrictions on Russian oil firms.

Bulgaria's ruling party is set to propose legislation this week to enable a special manager to oversee the sale of the Burgas oil refinery. This refinery is a subsidiary of the Russian oil company Lukoil, which is currently under U.S. sanctions.

These sanctions, enforced by both the U.S. and Britain, are part of broader efforts targeting Russia's major oil companies amid ongoing geopolitical tensions. The sanctions affect Lukoil's ability to operate internationally, including in countries like Iraq and Finland.

Former Prime Minister Boyko Borissov confirmed that the legislation would be introduced to ensure the refinery's operations continue without interference from sanctioned entities. The law asserts that the refinery's legal owner cannot contest the special manager's decisions.