site.btaUPDATED Energy Minister: Fuel Supply Security Is Guaranteed

The security of fuel supplies for the country is guaranteed despite the U.S. sanctions imposed on Lukoil and its subsidiaries, Energy Minister Zhecho Stankov said Tuesday near Vetrino.

He recalled that, by a Council of Ministers decree as early as 2009, the company’s assets, the refinery, pipelines, and the port in Rosenets, were designated as infrastructure of critical importance for both energy and national security.

“For me, the most important thing is to guarantee the security of supplies, to ensure sufficient quantities of fuel for citizens and businesses,” Stankov said, assuring that this has already been achieved.

According to him, the fuel supply security plan has been put in place, and the country has enough reserves for months ahead, not just until the end of the year.

Sanctions after November 21 affect the method of payment, Stankov added. He noted that, together with the Justice Minister, they have contacted the authority issuing the restrictions to ensure that the sanctions’ goals are met without affecting the interests of Bulgarian citizens.

Stankov recalled that oil is a traded commodity and that they have observed slight market fluctuations, which, however, will not impact his discussions with the Oil and Gas Association. He emphasized that the security of supply is fully guaranteed and that Bulgarians should have no concerns.

Regarding the Russian company’s intentions to sell its assets, the minister said it is important—in communication with partners from both the EU and the U.S.—to preserve the refinery’s operation and the jobs it provides. Halting or hindering its operation could destroy the asset, which neither he as minister nor the government will allow.

He added that the refinery is currently fully operational. It is important to ensure that, until the announced sale takes place, both jobs and supplies are safeguarded. The sanctions target the assets, meaning they can be sold once a buyer is found and approved. Stankov stressed that the Bulgarian state has a role in this approval—both through a screening mechanism and via the State Agency for National Security, which must also monitor the process.