site.btaEC Monitoring Possible Impact of US Sanctions on Lukoil, No Supply Disruptions Reported Yet

The European Commission is in contact with the concerned Member States and partner countries regarding a possible impact of the US designation of Lukoil in October, a Commission spokesman said here Monday. So far, the Commission has not received any evidence of a direct impact on supplies, the spokesperson added.

According to him, the most difficult weeks are yet to come with the start of the heating season.

The spokesperson also said that all transactions concerning the sale of Lukoil must be compliant with the relevant sanctions obligations. He pointed out, though, that Lukoil is currently not subject to EU sanctions. 

On October 22, 2025, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) expanded its sanctions on Russia by designating that country's two largest oil companies, Rosneft and Lukoil, under Executive Order 14024. The idea is to step up economic pressure on Russia's energy sector, which is a critical source of revenue for the Kremlin's military operations in Ukraine.

The Lukoil assets in Bulgaria include Lukoil-Bulgaria EOOD (a chain of over 200 filling stations), Lukoil Neftochim Burgas AD (the largest oil refinery in the Balkans), Lukoil Aviation Bulgaria EOOD (an aircraft refuelling operation), and Sustainable Energy Supply EOOD (marketing and trading in natural gas and other hydrocarbons).