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Europe Moves to Secure Lukoil Assets as Nov. 21 Sanctions Deadline Nears

The rush to line up buyers and temporary oversight reflects efforts to protect fuel supplies before the U.S. wind‑down takes effect.

Overview

  • Romania said it will apply U.S. restrictions on schedule on November 21 and will not seek a delay, with the energy minister stressing compliance and market stability.
  • Bucharest is in talks with Lukoil and potential buyers and is interested in taking over the Petrotel Ploiești refinery and roughly 300 filling stations.
  • Chisinau Airport confirmed negotiations to purchase Lukoil’s operations in Moldova to avoid aviation fuel disruption and signaled a potential outcome within days.
  • Bulgaria’s fuel industry expects a six‑month postponement of measures affecting Lukoil and the parliament has enabled a special manager to keep the refinery and related assets operating after November 21.
  • Deal uncertainty persists after Gunvor withdrew its proposal for Lukoil International GmbH, while analysts cited by Bloomberg describe a broader government scramble to secure assets across regions.