Sanctions against Lukoil: Deadline, Negotiations, and Energy Stability

27.10.2025 | Energetics

Minister Georgiev discussed the sanctions against Lukoil and their impact on financial stability. Negotiations and measures to ensure energy stability in Bulgaria are being discussed, given the new sanctions.

Снимка от Bearas, Wikimedia Commons (CC BY-SA 3.0)

There is a one-month deadline before the new sanctions, aimed at the "Lukoil" company, come into effect. However, this situation remains dependent on the developments in the negotiations between the United States and Russia, which adds an element of uncertainty. This was stated by the Minister of Justice Georgi Georgiev during the program "The Interview" on the Bulgarian National Television (BNT).

The minister explained that the sanctions, if they come into effect without changes, will affect the ability of the sanctioned companies to receive payments to various bank accounts. This could have significant consequences for the financial stability of the affected legal entities and their ability to conduct commercial activities.

Among the companies that will be affected by the new measures is the Bulgarian company "Lukoil", owner of a refinery located in a city. Minister Georgiev emphasized that the reason for this is that the actual owner of the Bulgarian company is the Russian company "Lukoil". This fact underlines the complex ownership structure and the need for careful analysis of the impact of the sanctions at different levels.

When asked about the possibility of a delay in the sanctions relating to "Lukoil", the minister replied that each case is specific. He emphasized that the decisions being sought are subject to coordination with European partners, which is a sign of the common approach of European countries to imposing sanctions. In addition, the minister confirmed that he maintains a dialogue with the US service responsible for imposing sanctions against Russia. This demonstrates the active efforts of the Bulgarian side to find solutions within the international context.

Furthermore, the minister explained that after a meeting of the Council of Ministers, it became clear that Bulgaria has enough fuel to cover its consumption by the end of the year. This information is intended to reassure the population and to show that the government has taken measures to ensure energy stability.

The state has developed a plan that provides for several key steps. First, a check of the available quantities will be carried out. Second, serious monitoring of what is happening will be introduced. And third, specific steps will be outlined. These measures underline the state's commitment to guaranteeing stability and security in the sector, given the imposed sanctions and the changing geopolitical situation.