Finance Ministry urges public institutions to evaluate contracts with Lukoil-Moldova
Public institutions at both central and local levels, along with finance departments and regional treasuries, were alerted to the need for a thorough evaluation of contracts with SRL "Lukoil-Moldova." This warning follows the company's designation under sanctions by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). The Ministry of Finance indicated that there is a significant risk that the company may be unable to fulfil its contractual obligations.
In this context, the institution advises contracting authorities to implement preventive measures to avoid disruptions in operational activities, especially if the supplier is unable to meet its obligations by December 13.
Among the actions recommended by the Ministry of Finance are the evaluation of ongoing contracts and the assessment of unexecuted service volumes; the payment for services already rendered; the initiation of procedures to release fund balances on allowances; the identification of alternative fuel suppliers; and the preparation of public procurement procedures.
The Ministry says that procurement solutions should be based on the estimated fuel requirements for the remainder of 2025.
Additionally, the Ministry of Finance urges public institutions to optimize fuel consumption and manage available resources prudently.
To prevent a potential fuel crisis for aircraft, Chisinau International Airport took over, free of charge, the operation of the oil terminal previously owned by Lukoil-Moldova on November 14.
This action follows the imposition of sanctions by the United States against the Russian oil companies Lukoil and Rosneft on October 22, due to Russia's unwillingness to pursue a peace agreement to end the war in Ukraine. These sanctions require Lukoil to divest its foreign assets, including those in the Republic of Moldova.
Lukoil-Moldova is controlled by the Russian group Lukoil through a subsidiary in Austria. The company operates a network of over 100 gas stations, three oil depots, and a gas terminal, holding more than 20% of the oil product distribution market. Notably, Lukoil accounts for approximately one-third of gasoline and diesel imports into the Republic of Moldova, while the Republic of Moldova's dependence on aviation fuel has reached 100%.
