Overview
- The veto blocks amendments that would have required government approval, based on DANS consent, for transactions involving real estate and equity in four Lukoil-controlled companies.
- The National Assembly passed the amendments on October 24 following U.S. Treasury sanctions on Lukoil and its subsidiaries and EU curbs on the Dubai-based trading arm Litasco Middle East DMCC.
- Compliance deadlines remain in effect, with all operations involving the sanctioned entities required to be completed by November 21.
- Lawmakers also voted down a proposal from the MECH party to nationalize Lukoil’s Bulgarian assets, with 80 opposed, 70 abstentions and 42 in favor.
- Lukoil previously signaled it might sell its Bulgarian business, and in January 2025 the prime minister said seven companies had expressed interest in the Burgas refinery.