Bulgaria is preparing to seize control of Lukoil's Burgas oil refinery and sell it to a new owner after the Russian oil company came under US sanctions, according to Bulgarian media reports. Burgas is Bulgaria's only oil refinery and as part of Lukoil is at risk of having to shut down because of the sanctions. The US joined Britain last month in imposing sanctions on Russia's two largest oil companies, Lukoil and Rosneft, over Vladimir Putin's war in Ukraine.
Washington has announced new sanctions against Russia's two largest oil companies, Rosneft and Lukoil, in an effort to pressure Moscow to agree to a peace deal in Ukraine. This marks the first time the current Trump administration has imposed direct sanctions on Russia. Speaking alongside Nato Secretary-General Mark Rutte in the Oval Office on Wednesday, US President Donald Trump said he hoped the sanctions would not need to be in place for long, but expressed growing frustration with stalled truce negotiations.