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Bulgaria moves to prevent shutdown of its only oil refinery ahead of US sanctions
Bulgaria granted state control over Lukoil's Burgas refinery to avoid shutdown from sanctions, with the refinery valued at €1.3 billion, officials said.
- Bulgaria is rushing to prevent the shutdown of its only oil refinery, the Lukoil-owned Burgas refinery, before U.S. sanctions on the Russian owner take effect on Nov. 21.
- Parliament in Sofia approved legal changes that grant additional state authority to a government-appointed manager of the refinery, including the right to sell its shares.
- The ruling coalition introduced the changes, arguing that the U.S. sanctions will effectively lead to the refinery's shutdown due to counterparties' refusal to make payments to Lukoil-owned companies.
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Romania and Bulgaria are trying to prevent the shutdown of refineries on their territory owned by Russian oil company Lukoil, against which the United States has imposed sanctions.
Associated Press News+29 Reposted by 29 other sources
Bulgaria moves to prevent shutdown of its only oil refinery ahead of US sanctions
Bulgaria is racing to prevent the shutdown of its only oil refinery before U.S. sanctions on its Russian owner take effect later this month.
·United States
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Romania and Bulgaria are in a counter-chrononomy course to prevent their refining before the US sanctions against Lukoil, the Russian company that holds them, to enter into force this month, writes Politico.eu. Washington's decision...
·Romania
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Coverage Details
Total News Sources40
Leaning Left11Leaning Right4Center16Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 35%
C 52%
13%
Factuality
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