Bulgaria faces fuel shortage - US sanctions on Russian company endanger supply
Bulgaria has about a month's worth of gasoline reserves as it prepares for the start of U.S. sanctions on Lukoil, the Russian-owned company that owns the country's largest refinery and most of the storage and pipeline infrastructure, the head of the state reserves agency said.
The United States and Britain last month imposed sanctions on Lukoil and Rosneft, Russia's two largest oil companies, over Moscow's war in Ukraine, threatening their operations that still extend across Europe.
The US sanctions, which will take effect on November 21, have raised concerns about fuel supplies ahead of winter in Bulgaria, where Lukoil operates the Burgas refinery, a key part of the company's operations outside Russia, and hundreds of gas stations.
Bulgaria has about 35 days of gasoline reserves and over 50 days of oil, according to official sources. Energy analysts say the country has more reserves of crude oil and its products outside Bulgaria, but they need to be imported before sanctions on Lukoil's pipeline network kick in.
“50% of the fuels ready for use are in other EU countries and part of the crude oil as well, which means that the government needs to activate these contracts as soon as possible,” informed sources from the Energy and Climate Program.
Bulgaria, which will adopt the euro on January 1, 2026, has taken steps to secure supplies since the sanctions were announced last month. The country temporarily banned exports of some fuels, mainly diesel and jet fuel, to EU member states.
Last week, parliament passed a law allowing it to take over the refinery and sell it to a new owner, in order to shield the plant from US sanctions. This week, Bulgarian authorities conducted inspections and implemented security measures at the Burgas refinery, as a measure to protect critical infrastructure.
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