Romania backs US sanctions on Lukoil, prepares national mechanism

Romania has announced that it will fully support the US sanctions set to take effect against Lukoil on November 21, the government confirmed.

Officials said a draft ordinance is expected next week to create a general mechanism for handling similar situations in the future. Government spokeswoman Ioana Ene Dogioiu stated that Romania would assist in applying the sanctions and that a working group led by the Ministry of Foreign Affairs is managing the process, Caliber.Az reports via Romanian media. 

According to the government, the sanctions will apply to the Lukoil refinery starting November 21 and to its gas stations beginning December 13.

Economy Minister Bogdan Ivan responded to comments from former PSD minister Adrian Câciu, who had argued that the government should focus on preventing fuel speculation and monitoring stocks and domestic refineries. Ivan said the structure of the Romanian fuel market ensured sufficient diesel and gasoline supplies, meaning there was no justification for price hikes linked to the sanctions on Lukoil.

The Minister of Energy added that the government is preparing a regulatory act designed to align with both international and national legislation while minimizing negative effects on the population and on company employees.

By Sabina Mammadli