Bulgaria Suspends Petroleum Exports to EU Amid US Sanctions on Lukoil
Bulgaria Suspends Petroleum Exports to EU Amid US Sanctions on Lukoil

Bulgaria Suspends Petroleum Exports to EU Amid US Sanctions on Lukoil

News summary

Bulgaria's National Assembly has passed a bill temporarily suspending the export of petroleum products, primarily diesel and aviation fuel, to EU member states. This measure aims to safeguard Bulgaria's energy security and stabilize the domestic fuel market following U.S. sanctions against the Russian oil company Lukoil, which owns the largest oil refinery in the Balkans through its subsidiary Litasco. The restrictions exclude fuel supplies for NATO and EU armed forces and the refueling of ships and aircraft. The sanctions, part of broader Western efforts following Russia's war in Ukraine, have led Lukoil to begin selling its international assets. The ban, adopted with a majority vote in parliament, reflects Bulgaria's preventive strategy to avoid speculative price fluctuations amid these geopolitical pressures. The U.S. sanctions represent the first significant measures against Russian energy firms since President Donald Trump's return to office in 2025.

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