How severe are the US sanctions against Lukoil, and is there a way to circumvent them?

Friday, Oct 24, 2025

Mediapool

US sanctions on Russian oil companies may affect Bulgarian Lukoil’s ownership and payments due to US financial restrictions.

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[This is an automatically generated summary, for reference only]

US sanctions against Russian oil companies Lukoil and Rosneft, intended to pressure an end to the war in Ukraine, may not specifically name the Bulgarian company “Lukoil Neftekhim,” but its ownership is affected. The refinery is subject to a ban effective November 21st preventing US persons from making bank payments or using US transit transfers related to blocked companies and entities with over 50 percent ownership. This means the refinery must stop paying for crude oil supplies to avoid secondary sanctions on those involved in transactions, according to Martin Vladimirov of the Center for Research on Democracy. However, Svetoslav Benchev, chairman of the Bulgarian Petroleum and Gas Association, suggests that US sanctions against Lukoil will not change anything domestically as they do not apply outside the US.

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