Balgarianovinite.com Litasco SA, a Geneva-based member of the Lukoil Group and the immediate shareholder of Lukoil Neftohim Burgas AD and Lukoil Bulgaria EOOD, claims that the imposition of external management over these two and other businesses of Lukoil in Bulgaria, subsequent actions undertaken by such management, as well as other actions of the Republic of Bulgaria that preceded or postdated the imposition of external management (including termination of the concession with respect to the Rosenets Port terminal), have materially affected Litasco SA’s investments in its Bulgarian subsidiaries and have resulted in significant losses to the Group.
In a statement published on its website on Wednesday, Litasco SA recalls that on November 14, 2025, the National Assembly of the Republic of Bulgaria adopted legislation introducing external management over Lukoil Neftohim Burgas AD, Lukoil Bulgaria EOOD, and other entities of the Lukoil Group operating in Bulgaria. Pursuant to this legislation, the affected companies’ management was transferred to the special commercial manager (a.k.a. special commercial administrator) as of November 17, 2025.
In order to protect its rights and legitimate interests, on February 19, 2026, Litasco SA submitted notice of dispute(s) to the Republic of Bulgaria, the statement says. The notice was filed pursuant to the Agreement between the Swiss Confederation and the Republic of Bulgaria on the Promotion and Mutual Protection of Investments (including its Protocol) and the Energy Charter Treaty.
Litasco SA considers that the measures adopted by the Republic of Bulgaria constitute breaches of Bulgaria’s obligations under the applicable bilateral investment treaty and the Energy Charter Treaty. Specifically, those measures amount to unlawful expropriation of Litasco SA’s investments without compensation. In the absence of an amicable resolution, Litasco SA intends to pursue all available legal remedies, including initiation of arbitration proceedings in the International Centre for Settlement of Investment Disputes. Litasco SA and other entities of the Lukoil Group reserve all rights and remedies, the statement says.
Days after the new Bulgarian legislation was adopted in November 2025, Lukoil said it “reserves the right to seek judicial remedies to protect its rights and legitimate interests in the event of their violation.”
The then prime minister, Rosen Zhelyazkov, explained the appointment of the special commercial administrator for Lukoil in Bulgaria with the fact that the Neftohim oil refinery in Burgas is part of the country’s critical infrastructure and the State has obligations to safeguard its uninterrupted operation. He stressed that the aim was for the refinery to continue functioning smoothly after November 21.
On October 22, 2025, the United States imposed sanctions on Rosneft and Lukoil, the two largest Russian oil companies. Similar sanctions were imposed the same day by the United Kingdom. Lukoil Group’s Litasco Claims Its Bulgarian Investments Expropriated Unlawfully 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-02-25 15:46:00 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