Romania is preparing for an important decision involving the Petrotel refinery, which is owned by Lukoil. The Prime Minister said in a recent interview that nationalising the refinery would only happen as a “last resort.” He explained that the situation is changing very quickly and that Romania is waiting to see what the United States decides about the upcoming sanctions.
For now, Romania has two possible paths. One option is that the United States will agree to delay the sanctions so that Romania’s energy sector does not face any sudden problems. The second option is that Lukoil’s assets in the country may be sold. Talks are going on between Romania, the European Union, and the United States to understand what steps should be taken next.
The Prime Minister explained that there is even a chance of a short delay, which would help Romania apply the sanctions smoothly. Another option is to make commercial deals that would allow the sanctions to be implemented immediately without creating shocks in the energy market.
Why Romania Must Adjust Its Own Laws
The Prime Minister shared that Romania has already applied sanctions in the past, but those were based on decisions made by the European Commission. This time, however, Romania needs to act based on decisions made by the United States. Because of that, small changes in Romania’s laws are needed. These changes are expected to be made next week.
He also admitted that the sanctions might affect some Romanian companies that do business with Lukoil.
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Even though there are risks, the Prime Minister said he does not expect fuel prices in Romania to go up if Lukoil’s operations are affected. He explained that while Lukoil is an important part of the fuel market in Romania, its share is not large enough to cause major disruptions.
However, things may be different for other nearby countries. Lukoil has a stronger presence in places like Bulgaria and Moldova. This means those countries could face bigger challenges if the sanctions take effect fully. Romania, on the other hand, is better positioned to manage the impact.
Plans to Keep Energy Supply Stable
To avoid problems in the energy sector, Romania’s Energy Ministry has already drafted a new regulation. This document was created after working closely with an important U.S. office that handles foreign assets and with the company involved.
The purpose of this new regulation is simple: to prevent any disruption in the country’s energy system, to protect Romanian companies that work with Lukoil, and to make sure there is no shortage of fuel in the market. Before the regulation can be put into action, it needs feedback from three important ministries — Finance, Foreign Affairs, and Economy. After that, the government will give its final approval.
Romania wants to be sure that no company in the country suffers unfairly because of the sanctions. The goal is to stay prepared, calm, and ready for any changes that might come in the next few weeks.
Why Bulgaria Faces Greater Challenges
According to the Prime Minister, Romania can handle the situation more easily compared to Bulgaria. Bulgaria depends more heavily on Lukoil’s operations. Any sudden shutdown or sale of assets in Bulgaria could create bigger risks for fuel supplies and for local companies.
This makes the sanctions more difficult for Bulgaria to manage. While Romania has other sources and a more flexible market, Bulgaria might face stronger shockwaves if the sanctions come into full force.
This difference between the two countries shows why Romania is trying to carefully coordinate with the United States and the European Union. The goal is to make sure that whatever decision is made, it does not harm energy stability in the region.