Bolojan, on the nationalization of Lukoil: “The last option”. What does he say about fuel prices?
Lukoil petrol station, Photo: Laura Boushnak / AFP / Profimedia Images
Prime Minister Ilie Bolojan said on Thursday, at Euronews, that there is a possibility of nationalizing the Romanian assets of the Russian company Lukoil in order to avoid the sanctions imposed by the United States, but he specified that nationalization “would be the last option. Bolojan also said that the sanctions against Lukoil should not lead to an increase in fuel prices in our country.
Ilie Bolojan said that, regarding Lukoil's activity in Romania, there are currently two options: either the United States agrees to postpone the entry into force of the sanctions so that the energy sector is not disrupted overnight, or a buyer is found for Lukoil's assets.
A risk for Romanian companies
“Discussions are taking place both between the EU and the US, and from the country with the United States at the level of experts, as we also have them, so that we can see how it will be acted in the next period. There is the possibility of some postponements, so that the sanctions are put into practice without major disruptions, or there is the possibility of concluding commercial transactions that allow the immediate application of the sanctions,” said the prime minister.
He admitted that sanctions against Lukoil may have a negative impact on other Romanian companies, such as Romgaz.
“We are in a situation where, if a commercial solution is not found, the operation of Lukoil in Romania will be very difficult because any kind of company that works with it, if the financial flows are not separated, will be in the position of entering into these sanctions”, stated Bolojan.
Asked if there was still the option of nationalizing Lukoil, the prime minister said: “That would be the last option. The situation is in a certain dynamic. A working group is working on these issues, but let's see what decisions are made at the global level next week, especially by the United States.”
Regarding the possibility of fuel price increases, Ilie Bolojan said: “We shouldn't have such situations. The refinery is stopped, and Lukoil's share is important, but not likely to create major problems.”
On the other hand, the head of the Government said that sanctions against Lukoil will disrupt markets in our region, where the Russian company has a greater share, such as Bulgaria and Moldova.
Announcement of the Minister of Energy
The Lukoil refinery can be taken over by the Romanian state for a limited period, says Nicușor Dan / “The refinery is important, not the gas stations”
The Ministry of Energy has already drawn up a draft normative act regarding the assets held in Romania by Lukoil, a company under US sanctions, Bogdan Ivan, the Minister of Energy, announced on Thursday. He did not want to say what provisions the new normative act contains. He stated, however, that there are no reasons for the increase in gasoline and diesel prices.
We remind you that Bogdan Ivan and President Nicușor Dan talked about the possibility of the Romanian state taking control of Lukoil's assets, given that on November 21 the US sanctions come into force, which will lead to the blocking of the Russian group's activity abroad. It is not clear in what way, if the state will take over the management and/or the shares.
“We have already drafted a normative act to regulate this new situation for the Romanian state and for all the countries that have these implications following the sanctions imposed by the US, in direct connection with those from OFAC, in direct connection with the company as well”, said Bogdan Ivan, when asked by journalists, on Thursday, in the Parliament, about the Lukoil situation.
