North Macedonia: Lukoil's Future Uncertain After Us Sanctions

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US sanctions against the Russian group may lead to a complete and permanent shutdown of the largest refinery in the Balkans located in Burgas, Bulgaria.

www.ertnews.gr

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The fate of Lukoil in North Macedonia remains unknown, as US sanctions against the Russian energy group come into effect on November 21, while an attempt to acquire the company by the Gunvor group failed. Response from Skopje Lukoil has 40 gas stations in North Macedonia and employs 550 people, holding a 15% share of the country's retail fuel market. The company sources its products mainly from Lukoil's refinery in Burgas, Bulgaria, which the Bu…