US sanctions against Lukoil may lead to the fall of the Bulgarian government and strengthen the position of pro-Russian forces. This is reported by Politico, citing sources.
According to sources, the Bulgarian authorities are negotiating with the White House about the postponement of the start of sanctions, as the country's largest oil refinery may stand up because of them. The shutdown of the refinery will lead to a shortage of fuel and may cause a chain reaction — with the rise of populists and protests against the authorities.
"Bulgaria has a large refinery in Burgas, owned by Lukoil, which provides up to 80% of the country's fuel needs. The company has historically had a huge economic impact on the Balkan country. Julian Popov, former Minister of Environmental Protection of Bulgaria and senior researcher at the analytical center "Strategic Perspectives", agreed that the government is "not properly prepared" and does not have a "contingency plan" in case of withdrawal of "Lukoil", which increases the likelihood of fuel shortages if not found the decision," the publication says, quoted by Strana.
This could lead to a change of government to a more loyal one to President Rumen Radev, who is considered to be pro-Russian and who has already announced his intentions to create his own party, Politico notes.
As reported by EADaily, the Russian company Lukoil announced the sale of its foreign assets due to the imposition of sanctions against the company. This was reported by the BBC.
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