Romania’s Energy Ministry to Evaluate Lukoil Sale After US Sanctions Imposed
The Ministry of Energy issued a press release on Thursday announcing that it has taken note of
Lukoil’s announcement regarding the sale of its assets. This is the Ministry’s reaction, sent a week after the US announced sanctions on the Lukoil group.
The Ministry of Energy claims that it will be able to express “a further position only after the full clarification of the shareholding structure and the origin of the capital of any potential investor”.
“We have taken note of the sanctions announced by the Office of Foreign Assets Control, an agency of the United States Department of the Treasury,” the Ministry of Energy said.
A week ago, the United States imposed sanctions on Russian giants Rosneft, Lukoil, and numerous subsidiaries. Although Lukoil owns assets in Romania, the Romanian government has not yet issued any official response regarding these sanctions and their effects.
According to authorities, Romania must first consider the position of the European Commission. “
Before making any decision, it is necessary to analyze the stance that the European Union will adopt, given that Romania already implements the EU-wide sanctions regime and will act strictly within this framework,” the statement reads.
The Ministry of Energy also noted that regarding Lukoil’s intention to sell its assets, an analysis will be conducted by the committee responsible for foreign investments. “
We have also acknowledged Lukoil’s public statement regarding its intention to sell its international assets. Following this announcement, an evaluation process of the transaction can be initiated within the Commission for the Examination of Foreign Direct Investments (CEISD), according to the applicable legislation,” the statement adds.
Ministry of Energy: Romania will issue a position only after clarifying potential buyer’s ownership
“We will be able to express a position only after fully clarifying the ownership structure and the source of capital of any potential investor, to ensure that the transaction is conducted in full compliance with the adopted sanctions packages and Romania’s economic security standards,” the statement continues.
Lukoil, Russia’s second-largest oil company, announced that it has received and accepted an offer for its foreign assets from Gunvor.