On December 2, Romania’s coalition government approved a decree allowing it to take control of local assets of companies under international sanctions, including Russian Lukoil.
Lukoil operates 320 gas stations in Romania, runs the country’s third-largest oil refinery, and holds exploration rights on a part of the Black Sea shelf.
The refinery, which accounts for about a quarter of Romania’s fuel supply, was closed for technical maintenance for several weeks.
Officials said that, as a member of the European Union, the country has sufficient reserves to avoid price spikes that could worsen inflation, currently the highest in the bloc.
Under the decree, the government can appoint special administrators for companies if sanctions distort economic sectors, cause sharp price increases, or threaten energy security. Such action requires prior approval from Romania’s Supreme Council of Defense.
This measure is similar to legislation passed last month in neighboring Bulgaria regarding the takeover of Lukoil’s Neftochim refinery, although it remains unclear whether Romania will use the new powers.
Prime Minister Ilie Bolojan stated that the Cabinet will decide in December whether to take control of Lukoil’s local gas stations.
In November, Energy Minister Bogdan Ivan said that three companies were in direct negotiations with Lukoil to purchase its Romanian assets.
The decree also allows Romania to take control of Lukoil’s exploration rights in the Black Sea “Trident” block.
Lukoil owns 85% of the shares in the Trident and East Rapsodia blocks, while the state gas producer Romgaz holds a minority stake. Lukoil’s exploration license expires in the first half of 2026.
