Igor Grosu: The transaction involving Lukoil assets will be reviewed in the national interest
International sanctions placed on Russian companies Lukoil and Rosneft are impacting the oil market in the Republic of Moldova, leading to potential shortages and rising fuel prices. The authorities in Chisinau are in discussions with several oil companies to explore solutions to potential disruptions in the fuel supply chain.
The issue concerning the assets of the two companies under global sanctions, Lukoil and Rosneft, impacts a significant part of Europe. Discussions are ongoing with other oil companies in the region to find viable solutions. The responsible authorities will also propose final resolutions. Energy Minister Dorin Junghietu stated, "As we have found solutions to address the energy crisis, I am confident we will find solutions for this issue as well."
Following the sanctions imposed by the United States, Lukoil, the second-largest producer in Russia, put its international assets up for sale and identified a buyer within just three days. The buyer is a company based in Switzerland, registered in Cyprus, and founded by Gennady Timchenko, a Russian oligarch and friend of Vladimir Putin. Parliament Speaker Igor Grosu mentioned that the transaction will be reviewed by the competent authorities in Chisinau.
"There will likely be an evaluation of this company to assess its activity and to determine whether the transaction is fair and transparent. A decision will then be made based on our national interests and expectations," Grosu stated.
In the Republic of Moldova, Lukoil holds a 20 percent share in the retail market and controls nearly half of the diesel imports. Lukoil-Moldova also supplies all kerosene for Chisinau Airport. The Civil Aviation Authority reported that refueling operations at the airport are proceeding normally. The Ministry of Energy has ruled out the possibility of a fuel crisis. Both oil giants, Lukoil and Rosneft, have been sanctioned by the United States, with the measures set to take effect on November 21. These sanctions aim to reduce the revenues of the Russian state budget and compel Putin to cease the war in Ukraine.
Author: Camelia Babeica
