Lukoil wants to get rid of foreign activities since the introduction of heavy sanctions by US President Donald Trump last month. As a result, parties that do business with Lukoil and its subsidiaries can also be punished. The sanctions are an attempt to hit Russia’s war chest.
Stocks
In Finland, the measures are already leading to Lukoil gas stations running out of supplies. This is not yet the case in the Netherlands, where the group has seventy gas stations, the company said.
Bulgaria decided on Friday to take control of a Lukoil refinery in the country. A special manager may sell the shares to a new owner after government approval. The Lukoil-Neftochim refinery in eastern Bulgaria is the country’s largest company, with a turnover of 4.7 billion euros last year.
Lukoil’s activities in Moldova will come to a standstill on November 21 due to the sanctions, it was announced on Friday.