Balgarianovinite.com The future of the Lukoil Group in Bulgaria will depend on negotiations between the United States and Russia, Prime Minister Rosen Zhelyazkov said in an interview for the Bulgarian National Radio on Sunday. The fate of Lukoil, like that of Rosneft, is a function of the talks between Washington and Moscow on ending the war in Ukraine and achieving a lasting peace, he noted.
Asked whether the government intends to buy the refinery if sanctions are extended, Zhelyazkov said that all steps undertaken by the Bulgarian state aim to convince the US Office of Foreign Assets Control (OFAC) that the logic and purpose of the sanctions are being observed. Although this places Bulgaria in a position of compliance with a foreign regime, it is the only way to ensure that the refinery can continue to operate, he commented. Under Bulgarian law, the special administrator assumes the rights of the shareholder and may transfer the shares to a selected buyer, with the proceeds from the sale to be blocked in line with OFAC requirements. Any such step would require US licences, the Prime Minister noted.
Commenting on concerns that the US might negotiate with Russia “behind Europe’s back”, Zhelyazkov said that this is not the case and that Europe must insist on its own security guarantees. Territorial decisions must be made by the Ukrainian people, he said. According to him, Russia must be compelled to sit at the negotiating table so that a durable peace can be reached at an acceptable cost for Ukraine and for Europe.
Regarding Lukoil Neftochim Burgas, Zhelyazkov said that due to low oil prices and market pressure resulting from the war, the refinery significantly reduced production in 2025 to avoid deepening losses, producing only for the domestic market. This created substantial fiscal difficulties: excise and VAT revenues of nearly BGN 1 billion did not enter the budget due to the refinery’s reduced activity.
Zhelyazkov recalled that four companies in Bulgaria – Neftochim Burgas, Lukoil Bulgaria, Lukoil Jet, and Lukoil Bunker, are subsidiaries affected by sanctions. Although US sanctions are not territorially binding for EU countries, financial institutions are dependent on international payment systems, which made it impossible for the company to pay for crude oil or settle transactions. Without legislative changes adopted earlier this year, the refinery would have had to suspend operations, he said. The goal of the new legislation was to enforce the sanctions regime while ensuring that the refinery could continue functioning and that its revenues would not flow, directly or indirectly, to Russia. Fate of Lukoil Group in Bulgaria Depends on US–Russia Negotiations, PM Zhelyazkov Says 2025 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2025-11-30 15:27:27 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law