(MENAFN) Bulgaria and Romania are taking steps to shield refineries owned by Russian oil company Lukoil as new US sanctions loom, according to reports. Lukoil operates Bulgaria’s largest refinery, Neftochim Burgas, and Romania’s Petrotel. The sanctions, set to take effect on November 21, were imposed after Washington accused Russia of not committing to peace in Ukraine. Moscow has maintained that it is open to negotiations but seeks a comprehensive resolution addressing the conflict’s root causes.

Bulgarian officials worry the sanctions could force Burgas to shut down, potentially halting up to 80% of the country’s fuel supply, as banks withdraw support. This could spark fuel shortages and public unrest. Sofia is reportedly seeking an exemption or a delay from Washington.

Bulgarian lawmakers also passed legislation allowing the government to take control, nationalize, or sell Burgas if needed to mitigate the sanctions’ impact.

Romania’s Petrotel refinery supplies around 20% of domestic demand, reducing the immediate threat to fuel availability, though authorities are considering requesting an extension of the sanctions. Analysts note that while a Petrotel shutdown would slightly raise domestic prices, it could disrupt Moldova’s imports, as Romania supplied nearly all of its gasoline and a majority of its diesel in 2024. Nationalization of Petrotel remains a “last option” for Bucharest.

Following the sanctions announcement, Lukoil accepted an offer from energy trader Gunvor Group to purchase its foreign assets, but the deal was withdrawn after Gunvor faced accusations of Kremlin ties, which the company called “fundamentally misinformed and false.”

The Kremlin has repeatedly denounced Western sanctions as politically driven and illegal, warning they could destabilize global energy markets and push fuel prices higher.

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