Bulgaria is considering requesting relief from new U.S. sanctions against Russia’s largest private oil company, Politico reported, citing two people familiar with the matter.
The government has now asked Washington how it should proceed to request a delay in the sanctions after they begin on 21 November.
The government is concerned that the sanctions could lead to the closure of the refinery as banks refuse to co-operate with it, leading to fuel shortages and protests.
Sofia says this could hasten the government’s downfall, sources said, boosting support for Bulgarian President Roumen Radev, who is seen by some as pro-Russian and has publicly floated the idea of a new political party.
Bulgaria’s energy ministry declined to comment. The Bulgarian president did not respond to Politico’s questions.
Bulgaria is home to Lukoil’s large refinery in Burgas, which supplies up to 80 per cent of the country’s fuel. The company has historically had a huge economic influence in the Balkan country, and the refinery has previously been linked to exploiting loopholes in EU sanctions.
On 22 October, President Donald Trump announced sanctions against Russia’s two largest oil producers, Rosneft and Lukoil, prompting several EU countries where the companies operate to apply for sanctions relief.