Bulgaria moves to prevent shutdown of its only oil refinery ahead of US sanctions

Image for article Bulgaria moves to prevent shutdown of its only oil refinery ahead of US sanctions
News Source : Financial Post

News Summary

  • Parliament in Sofia approved legal changes that grant additional state authority to a government-appointed manager.
  • The move came after a top international commodities trader dropped plans to purchase Lukoil’s international assets.
  • Lukoil said it was selling its international assets in response to U.S. sanctions aimed at pushing Russia to agree to a ceasefire in its war against Ukraine.
  • Bulgaria imposed temporary restrictions on the export of petroleum products, including those destined for other European Union members, to ensure sufficient domestic supplies.
SOFIA, Bulgaria (AP) Bulgaria is racing to prevent the shutdown of its only oil refinery before U.S. sanctions on the Russian owner take effect later this month.THIS CONTENT IS RESERVED FOR SUBSCRI [+4409 chars]

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