Reuters has learned that London has temporarily lifted sanctions on LUKOIL's Bulgarian refinery.

The UK has temporarily lifted sanctions on LUKOIL's Burgas refinery and its petrol stations to allow them to operate.REUTERS , citing sources, reports that the United States plans to make a similar decision by the end of Friday, November 14.

The British authorities have issued special licenses to Lukoil Bulgaria EOOD and the Burgas refinery operator Lukoil Neftochim Burgas AD, allowing banks and companies to work with them until February 14.

At the same time, Bulgaria is also seeking a six-month waiver from Washington's sanctions. According to Boyko Borisov, leader of the ruling GERB party, this waiver could be granted today.

The LUKOIL Neftohim Burgas refinery is the largest oil refining facility on the Balkan Peninsula. LUKOIL also operates a network of gas stations in Bulgaria.

Earlier, on November 8, the Bulgarian parliament approved in its final reading a bill that provides for the introduction of a managerial position at LUKOIL's Burgas refinery, which would also have the authority to sell it.

The Bulgarian government fears that US sanctions could lead to the shutdown of the Burgas refinery, as banks will withdraw investment in the facility, Politico reported, citing sources. This, the publication explained, could lead to large-scale fuel shortages and protests.

On Tuesday, November 12, the chairman of the Bulgarian Agency for State Reserves, Asen Asenov, announced that Bulgaria was facing a gasoline shortage due to US sanctions against LUKOIL: the country's remaining reserves of this fuel would only last for one month.

The United States imposed sanctions against LUKOIL and its subsidiaries on October 22 and gave them a month to wind down operations with the company, a deadline that expires on November 21.

LUKOIL has projects in Austria, the United States, Romania and Bulgaria, Mexico, Azerbaijan, Kazakhstan, and several other countries. However, in some of these projects, the stakes involved are significantly less than 50%, so experts previously assumed that in most cases, they would not have to be sold. However, blocking US sanctions are paralyzing LUKOIL's participation in the management of these companies and their operations.

RUSSIA considers Western sanctions illegal. President Vladimir Putin called the new US sanctions "serious" for Russia and entailing "certain consequences."

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